Venezuela's Central Bank (BCV) headquarters in Caracas next to BCV and Venezuelan flags. File photo.
Tuesday, August 23, the president of the Central Bank of Venezuela (BCV), Calixto Ortega, reported that Venezuela achieved an economic growth of 17.04% in the first quarter of 2022.
From Miraflores Palace in Caracas, during the National Council for Productive Economy, Ortega announced that economic growth is estimated to reach 18.07% for the second quarter, with preliminary figures only considering the private non-oil sector.
Likewise, Ortega reported that Venezuela has four quarters of continuous double-digit economic growth. With 14.5% for the third quarter of 2021, 19.07% for the fourth quarter of 2021, joining 17.04% and 18.07% reported for the first and second quarters of 2022, respectively.
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Taxes
During the activity, the president of Venezuela, Nicolás Maduro, announced that he will propose a draft Organic Law on tax harmonization, particularly for municipalities. to the National Assembly (AN).
The head of state reported that tax collection for the first seven months of this 2022 was $2.4 billion, more than double the amount registered in the same period in 2021, which was $1.1 billion.
Similarly, he said that by the end of 2022, the country is expected to collect $4 billion in taxes.
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“It is a good sign of what can continue to happen and must happen,” President Maduro said. “Growth for the full year 2022, measured in dollars, is projected at 120%.”
In addition, the president estimates that tax collection for 2023 is estimated to be double that of 2022.
For this, President Maduro ordered the construction of a powerful national tax system that captures the wealth that is created so that it can be invested in salaries, social security, housing, public health, public education, recreation, and in all the social programs that characterize Venezuelan Social Welfare, as defined in the 1999 Constitution.
“It is the way: the creation of wealth, compliance with tax regulations, payment of taxes, and with the reception of tax it is one of the great ways of capturing the wealth that is created in society,” President Maduro said. “And with the capture of that wealth, the possibility of investing in the economy, in the macroeconomic balances that are so important, investing in the micro and macro-social balances on the right to food, salary, social security, housing, education, to health, recreation and life in general.”
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(Ăšltimas Noticias) by Carlos Eduardo Sanchez
Translation: Orinoco Tribune
OT/JRE/SL
