Colombian government will reduce its budget before fall in oil

Colombian Finance Minister Mauricio Cardenas announced that his government will cut the nation’s budget on six billion pesos ($ 2,440 million) to ensure fiscal stability before the reduction of international oil prices. The official said the cuts will “implement tough...

The state budget is trimmed in $ 1,420 million after reduction of oil prices

The Minister of Finance, Fausto Herrera, prior to traveling to China, indicated that the General State Budget (PGE) of this 2015 was cut in $1 420 million, “considering the reduction of oil prices,” he said in a statement, on Monday, January 5. According to the...

The Quito Subway will not be in the 2015 state budget

The Metro project for Quito was not included in the General State Budget of 2015, confirmed the Ministry of Finance. “it is not contemplated because it is not a decision of the Central Government, but of the Municipality of Quito. But as soon as the Mayor decides, a budget...

Correa justifies the issuance of bonds by Ecuador

In the framework of the placement of $ 2,000 million in the international market at a 10-year term and with an interest annual rate of 7.95%, President Rafael Correa yesterday justified the action stating that this resources will cover the fiscal deficit and the investment for...
Ministerio de Finanzas, Patricio Rivera

State Budget of 2013 will be equal to last year

The Ministry of Finance, Patricio Rivera, presented the figures for the State Budget 2013 and announced that the amount will be equal to that approved in 2012, is around $ 26,000 million. This happens in election years. According to the 2008 Ecuadorian Constitution, when there...
King Juan Carlos

Spanish Royal Family Studies Reductions in Costs and Salaries

Sources from the Spanish Royal House announced today that it plans to reduce protocol costs and higher wages to save trim the € 170,000 that includes the draft State budget for this year. Sources said it is expected that this pay cut affects the three senior management positions...