Just cut back

[NewsWhore]

Former Central Bank director Gullermo Caram says the government could counteract reduced revenue levels by revising subsidies and renegotiating the foreign debt. Caram is also calling for a rigorous austerity plan. Caram said that a drop in revenue could have been predicted. Hacienda Minster Vicente Bengoa made the announcement about reduced revenue levels yesterday. Caram was critical of what he classed as the government's continuous spending on non-essential projects, saying that this needs to stop. Caram continued by saying that the PetroCaribe agreement needs to be renegotiated because it doesn't reflect the reality of current market prices.

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