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A shortfall of $ 16,386 million
Posted On 31 Jul 2017
Ecuadornews:
There is a shortage of money. The budget proforma of $ 36,818 million has a gap of $ 16.36 billion to be filled over the next five months. Figures from the Ministry of Finance show that, as of July 30, the Government obtained $ 20.432 billion to meet its obligations.
Far from clarifying the economic situation, the tweets of former president Rafael Correa arouse more doubts among analysts and experts. His criticism of the economic assessment of President Lenin Moreno led the Corporation for Development Studies (Cordes) to ask questions to Correa about the management of public spending during his ten years in office.
Through his Twitter account, the former president said that for two years the country had no oil revenues. This is noteworthy because, according to the corporation, the Central Bank recorded oil revenues in 2015 and 2016.
In 2015, for example, revenues of $ 2,264 million were recorded. The following year appears, $ 2,003 million.
But if what Correa said is true, then there is an error in the deficit, according to the Cordes. In 2016, the deficit was of 7,551 million and not of 5,548 as the official figures claim. This is due to the sum of oil revenues registered at the Central Bank which, according to the former president, never existed.
The data confirm, according to the agency, the severity of the situation. (I)
Source: http://www.expreso.ec/
