Macroeconomy/Finance

Government disburses $237.21 million to regions to combat COVID-19

The Government launched the Covid-19 Fund of over Bs 279.3 million ($42.72mn) and released 12% of the resources from the Direct Tax on Hydrocarbons (IDH) – some Bs 1,372 million ($197.12mn) – that were being withheld for hydrocarbon exploration and exploitation, making a total of Bs 1,651 million ($237.21mn). The resources will go to the Autonomous Territorial Entities (ETA) to fight the coronavirus pandemic in their different regions.

Source: El Deber