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Ecuador will have between $ 700 and $ 1,500 million less than budgeted, says analyst
Posted On 23 Feb 2016
The director of the Institute of Economics at the Universidad San Francisco de Quito, Santiago Bucaram Villacis, questioned Monday that the Government has taken as a basis for the preparation of the pro forma budget, adopted three months ago, the price of oil at $ 35, and believes that the country will grow economically by 1%, when international sources have said there will be a negative decline.
Institutions including the World Bank (WB), the International Monetary Fund (IMF), Merrill Lynch, among others, indicate that the negative decline will be less than 2% and 4%, he said.
