• ENGLISH
  • ESPAÑOL
facebook
twitter
  • National>Entertainment
  • National>Local Economics
  • National>Local Politics
  • National>Society
  • National>Sports
BREAKING NEWS
Ecuador will sell animal feed to Colombia because of landslide
Alexis Mera gets pre-release after three and a half years in prison
Jorge Glas Unification of Sentences Granted
Ecuador declares illegal mining a threat to state security
International Reserves registered their highest level since the start of dollarization
Government denounces 28 candidates for links to drug trafficking
Constitutional Court dismissed the 7 members of the Council for Citizen Participation and Social Control
Ecuador imported the historic figure of USD 7,646 million in fuels
An Andean bear is released into its habitat after two years in captivity
Ecuador gets ready to vaccinate birds and counter avian influenza

3,000 million will come from China

Posted On 14 Jan 2016

 

Image: Expreso

Image: Expreso

On Tuesday, in a television interview, President Rafael Correa said that additional 3,000 million dollars would come, which will serve to complete the state budget of this year. Correa insisted that the estimate of $ 35 in the price of oil (for the budget formulation) “means zero oil revenues to the central government. Because everything goes to import costs, replacement costs for oil companies and preallocations to municipal governments.” He confirmed that, in the event of problems, “they are going to adjust the investment program. We did that in 2015 and we will do so more strongly in 2016.”

But how will the government cover all financing needs for this year, which totaled 6,600 million dollars ?. . “Disbursements are coming from China, the debt has already been hired,” he said. Finance Minister Fausto Herrera, who was sitting in the audience, added:  “this month we are signing 3,000 million with China, the rest are debts that were already signed in previous years and the rest, which is about two GDP (Gross Domestic Product) points is internal financing.”

 

 

Source: http://expreso.ec/expreso/plantillas/nota.aspx?idart=8815189&idcat=38229&tipo=2

About the Author
  • google-share
Previous Story

Country risk goes up 1,500 points

Next Story

Four sectors had less labor demand in late 2015

SEARCH

LATEST NEWS

Ecuador will sell animal feed to Colombia because of landslide

Posted On 27 Jan 2023

Alexis Mera gets pre-release after three and a half years in prison

Posted On 27 Jan 2023

Jorge Glas Unification of Sentences Granted

Posted On 27 Jan 2023
Copyright © 2010 - 2019. All Rights Reserved. EcuadorTimes.net