Venezuela
Ley Orgánica de la Administración Financiera del Sector Público (LOAFSP) y Ley Orgánica de la Contraloría
LOAFSP 2003/2009/2015; LOCGR 2001/2010; Ley Contrataciones Públicas (Decreto 1399/2014); Ley contra la Corrupción 2003/2014; Const. 1999 Arts. 287-291, 311-315
Venezuela's national fiscal transparency framework rests on the 1999 Bolivarian Constitution and the LOAFSP (2003; major reforms 2009 and 2015), which mandates SIGECOF-integrated financial management, quarterly execution reports, and CGR audit (Const. Arts. 287-291, Citizens Branch). On paper, Venezuela's statutory framework reaches the LatAm-A cluster baseline on most dimensions. In practice, all IBP OBS transparency scores since 2017 are zero (OBS 2023 T=0, rank 123/125) — every budget document withheld from public access. FACTS 500 scores statute as written; downstream display should include a prominent disclaimer that the statutory framework is effectively non-operational in practice.
Transparency Requirements
Budget Publicationmax 12 pts
| Budget publication required | ✓ Yes |
|---|---|
| Budget published online | ✓ Yes |
| Budget publication timeline | 77 days before fiscal year |
| Machine-readable budget format | No |
| Draft budget required before adoption | ✓ Yes |
Expenditure Disclosuremax 12 pts
| Expenditure disclosure required | ✓ Yes |
|---|---|
| Expenditure granularity | department |
| Public expenditure portal required | ✓ Yes |
| Expenditure reporting frequency | quarterly |
Independent Auditmax 12 pts
| Audit required | ✓ Yes |
|---|---|
| Auditor independent of entity | ✓ Yes |
| Auditor selection method | appointed independent |
| Audit frequency | annual |
| Audit reports public | ✓ Yes |
| Audit scope | financial performance |
Contract & Procurementmax 10 pts
| Public bidding required | ✓ Yes |
|---|---|
| Contract publication required | ✓ Yes |
| Bid award disclosure | ✓ Yes |
| Beneficial ownership disclosure | No |
Debt & Liability Disclosuremax 10 pts
| Debt disclosure required | ✓ Yes |
|---|---|
| Pension liability disclosure | No |
| Contingent liability disclosure | ✓ Yes |
| Voter approval required for new debt | No |
Fiscal Reporting Frequencymax 10 pts
| Interim reporting required | ✓ Yes |
|---|---|
| Interim reporting frequency | quarterly |
| Year-end report deadline | 180 days after fiscal year |
| Citizens budget required | No |
Enforcement & Oversightmax 10 pts
| Non-compliance penalties | ✓ Yes |
|---|---|
| Fiscal oversight body | No |
| Whistleblower protections | No |
| Legislative budget office | No |
Revenue & Tax Transparencymax 8 pts
| Tax expenditure reporting | ✓ Yes |
|---|---|
| Revenue forecasting required | ✓ Yes |
| Tax rate publication | ✓ Yes |
| Fee schedule publication | ✓ Yes |
Compensation & Payrollmax 8 pts
| Salary disclosure required | No |
|---|---|
| Salary disclosure scope | — |
| Pension benefit disclosure | No |
| Overtime reporting | No |
Capital & Asset Disclosuremax 8 pts
| Capital plan required | ✓ Yes |
|---|---|
| Asset inventory required | No |
| Surplus asset disposal transparency | No |