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The Government will extend to the end of November the tariff exemptions for CKD or spare parts used for electric induction cookers. The Electricity Minister Esteban Albornoz said last week during the delivery of 49 induction cookers in Floreana (Galapagos), that this measure will...

The Farmer’s Association of the Coast and Galapagos warned yesterday about the decline of cattle in the country and said that this could cause a “severe shortage of meat in the markets, which will be accentuated in the months of December, January and next...

The Committee on Economic Conditions of the Assembly yesterday adopted the report on the Budgetary assignments for 2015, the same that shall be known by the plenary before the final vote on the document. The National Assembly does not propose changes to the document submitted by...

The 2015 budgetary assignments contemplates a growth in the tributary burden and the creation of two new regulatory fees. With regards to the tax burden, the Internal Revenue Service (SRI for its Spanish acronym) indicates that a growth of 13.8% to 13.9 will be presented; plus...

Certain products from the Andean Community (CAN for its Spanish acronym) would re-enter to Ecuador without recognition of quality certificates, such as toiletries, food, plastics, metalworking products, toys, etc. This happens after the Opinion 3 of the General Secretariat of the...

The Director of the Internal Revenue Service (SRI for its Spanish acronym), Ximena Amoroso, said that according to estimates for 2015, tax revenues will be of $ 14,099,000. This would exceed the budgeted figure for 2014, which was of $ 12,509.8 million. Amoroso said that 200,000...

President Correa said that the gross income from petroleum uses amounts to 16,960 million, however only 18.57% of total oil income comes to General Budget. According to the president, 34% of income is consumed in the production process itself intended for oil product imports and...

The Central Bank of Ecuador (BCE) said in a statement that the Ecuadorian economy grew 3.5% in the second quarter of this year compared to the same period in 2013. The growth is mainly by the performance of non-oil sector, which contributed 2.85 percentage points, confirming that...

President Rafael Correa said yesterday that his government is ready for the fall in the international price of oil, the main source of export of Ecuador. “We are prepared to face this situation,” the president told reporters in the Ecuadorian Amazon, where it comply...

The Minister of Industries, Ramiro Gonzalez, said yesterday that the regime is evaluating the extension of the quota for the import of mobile phones. In 2014 a maximum annual quota of USD 142.6 million for 33 importing companies was established, representing 33% over the previous...