Transparency (Open Budget Index) 8/100
The Government of Venezuela provides the public with scant budget information.
Public Participation 23/100
The Government of Venezuela is weak in providing the public with opportunities to engage in the budget process.
By legislature 39/100
Budget oversight by the legislature in Venezuela is weak.
By auditor 67/100
Budget oversight by the supreme audit institution in Venezuela is adequate.
Venezuela should prioritize the following actions to improve budget transparency:
- Publish an Executive’s Budget Proposal.
- Publish a Pre-Budget Statement and Year-End Report.
- Produce and publish an Audit Report, a Citizens Budget, and a Mid-Year Review.
Venezuela should prioritize the following actions to improve budget participation:
- Establish credible and effective mechanisms (i.e., public hearings, surveys, focus groups) for capturing a range of public perspectives on budget matters.
- Hold legislative hearings on the budgets of specific ministries, departments, and agencies as well as on audit reports at which testimony from the public is heard.
- Provide detailed feedback on how public assistance and participation has been used by the supreme audit institution.
Venezuela should prioritize the following actions to strengthen budget oversight:
- Establish regular consultations on budget matters between the executive and the legislature.
- In both law and practice, ensure the legislature is consulted prior to the virement of funds in the Enacted Budget, the spending of any unanticipated revenue, and the spending of contingency funds that were not identified in the Enacted Budget.
- Ensure the supreme audit institution has adequate funding to perform its duties, as determined by an independent body (e.g., the legislature or judiciary).