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BREAKING NEWS
Extra and eco gasoline prices at $2.40 and diesel at $1.75 are already in force in Ecuador
Ministry of Agriculture began the delivery of seeds, inputs and subsidized fertilizers up to 70%
Guillermo Lasso: ‘Now together we begin the task of transforming this peace into progress, well-being and opportunities for all’
Government and Conaie agree to end the strike after a tense morning
Ecuador asks Mexico for a response on bananas and shrimp
Losses in the non-oil export sector amount to $85 million in 16 days of strike
The Government withdraws from the dialogue table after the death of a soldier
Popular oil would arrive in stores from this week at prices ranging from $1 to $1.25
Legislators denounce pressure and threats to vote for the removal of the President of the Republic, Guillermo Lasso
Conaie agrees to meet with representatives of all State powers

A bad economic year consumes Ecuador

Posted On 19 Oct 2015

President Correa, in view of the international scene, warned that 2015 would be a difficult year and 2016 too. With that adjective, it must be included that the country has entered into a technical recession (two consecutive quarters of negative growth in GDP),  lost jobs and that counter-cyclical and trade measures that have not helped as much as expected in order to compensate the outflow of foreign exchange and the depreciation of oil as a source of income.

This led the Executive to cut the budget twice this year (up to $ 2,800 million) and restrict the budget of the upcoming year to 6,000 million dollars, even the expenditure of strategic sectors.

Safeguards, the end of fuel subsidies or the reduction of lending to maintain a strong banking are measures that reflect the economic crisis in Ecuador. And analysts look askance 2016 as the year of election campaign, in case investments and projects are paralyzed.

 

Source: http://expreso.ec/expreso/plantillas/nota.aspx?idart=8559104&idcat=38229&tipo=2

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Extra and eco gasoline prices at $2.40 and diesel at $1.75 are already in force in Ecuador

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