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Oil prices complicate the quadrennial calculation of Ecuador
Posted On 02 Sep 2015
Image: Expreso
According to the four-year budget, which is submitted each year to the Assembly, and that estimates results until 2018, oil revenues will reach their peak in 2017 and that year.
The fruits of the exploitation in the Yasuni park will double the amount generated. By 2016, without barrels of natural reserves, the aspiration was 3.908 million dollars. The following year, with oil of the Yasuni, the amount totaled 6.224 million dollars. In 2018, oil revenues would exceed 6.185 million.
The Ministry of Finance admitted that the quadrennial budget will be reviewed. According to new calculations, the estimated budget for 2016 -and the figures for the four subsequent years- will be based on an oil price of $ 40. For this year, the initial projection was $ 79.7 per barrel.
Source: http://expreso.ec/expreso/plantillas/nota.aspx?idart=8329425&idcat=38269&tipo=2
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