Councils of the Superior Court of Auditors and Administrative Disputes presented Wednesday a report on the country's financial situation and the effectiveness of public spending for the 2013-2014 fiscal year. This report allows the Court to identify a set of weaknesses in the predictive power of the state and management of Petro Caribe Fund, indicated the councils.

This report presents the status and effectiveness of public finances in penny terms of the management of budget and expenditure review of investments, explained Robert Fritz ST PAUL, President of (CSC / CA).

The paper reviews the legal and statutory framework in which the administrative apparatus of the State; it is the economic context of the situation of public finances, Mr. St Paul said. It is in this context, he adds, the Court analyzed the macroeconomic performance under the 2013-2014 budget.

Following the analysis of the budget and its components, the analysis of the overall economic situation, the Court found a series of anomalies that lead counsel to a set of recommendations, as adviser, Saint Just Monprévil.

This study on public investment expenditure showed that the state forecasting ability is extremely low and that the management of Petro Caribe fund is very fragile.

The Court examined primarily on capital expenditure made under the Petro Caribe Fund and examined globally. how contracts were signed and how they were beneficiaries to some firms.

The cost of these contracts, we read in the report, consider themselves to be 1. 1 billion US dollars between May 2012 and September 2014, including the disbursement of $ 861 million over the same period.

As conclusions, the Court noted, among other things, breach of procurement under the cover of the law on state of emergency and abuse in the use of the latter for the first round. The weaknesses of this law called merit corrected to avoid further slippage ahead and embezzlement of public funds that accompany them, do we read in the report

Counsel also pointed out the implementing contracts that have not been met. There are even cases where two years were delays while the performers have already received the largest portion of the amounts of their contracts, they reported.

The Court made a number of recommendations to improve the management of public finances and increase the efficiency of spending.

These recommendations cover, among others, on the legal framework for the management of public finances including a number of ministry,which are themselves in a situation of illegality are managing state funds. The advisers also suggest efforts to strengthen predictive capacity of the state .