Venezuela widens fiscal deficit target to 3% GDP

VENEZUELA - Central bank chairman Domingo Maza Zavala has announced that the government has widened its 2002 fiscal deficit target to 3% of GDP from 2.7% due to lower than expected tax receipts.

Maza Zavala said that, while the recession has affected tax revenues, the government still has an opportunity to offset this shortfall by announcing new tax rises.

He also said that the government is reviewing its inflation forecast for the full year, and that he currently expects consumer prices to ris

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