Budget
According to the law of the approved budget for the 2012 Fiscal year, the budget allocated to the defence sector, is U$ 4.959 million, which represents 6.5% of Venezuela's Gross Domestic Product (GDP). Another source indicates that the amount is of 4,508 billions of dollars. This amount does not include the additional credit granted by the Russian Federation of 4 billion of dollars, half of which will be used in fiscal year 2012, and the other half in fiscal year 2013.
Read more about this topic: National Armed Forces Of The Bolivarian Republic Of Venezuela
Famous quotes containing the word budget:
“The United States is the only great nation whose government is operated without a budget. The fact is to be the more striking when it is considered that budgets and budget procedures are the outgrowth of democratic doctrines and have an important part in developing the modern constitutional rights.... The constitutional purpose of a budget is to make government responsive to public opinion and responsible for its acts.”
—William Howard Taft (1857–1930)
“We might come closer to balancing the Budget if all of us lived closer to the Commandments and the Golden Rule.”
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“You can fool all the people all the time if the advertising is right and the budget is big enough.”
—Joseph E. Levine (b. 1905)