• The South American country is one of the countries with less budgetary information

El Universal: Venezuela ranked 63 among 94 countries that were examined in the context of the Open Budget Index 2010.

José Manuel Puente, an economist at Caracas-based business school IESA who presented the study, said that with this result, the South American nation ranks among the countries with less budgetary information.

The five most transparent countries as regards budget transparency and accountability are South Africa, New Zealand, Great Britain, France and Norway.

The Latin American countries with the best budget transparency are Chile (8), Brazil (9), Peru (15), Colombia (20) and Argentina (30).