Venezuelan President Hugo Chavez is not known to rectify. However, on this occasion has used the last cabinet meeting to announce that, listening to the positions and criticisms from various sectors, has decided to veto the Universities Act and not to increase VAT. "I have decided to veto the law has come here (...) I've been talking to former rectors, presidents, ministers (...) and the law has its strengths, I am among those who think you have your weaknesses" , the president said at a council broadcast by Venezolana de Television.No increase in VAT Similarly, the president has dismissed his own idea of increasing the value added tax for extra resources to the problems of the Venezuelan economy, exacerbated by the recent floods. "Notice we are not going to increase the value added tax," he said. "Not a point or two points or anything.
In all this year or 2011 or 2012 or anything. We had planned for the emergency, but no. I got as feeding [referring to a fund for housing]." Chavez has argued that the increase in oil prices has enabled the Government to dispose of a measure that would have been very unpopular, "The price of oil is rising (...) pointing at the right price, which we estimate at $ 100 a barrel ( ...).
And we are confident that this year will be economic growth. "
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