Lower oil prices would mark the new year

Next year will bring major challenges for the national economy, as stated yesterday by analyst Walter Spurrier at the conference ‘forecasts for the end of the year and projections for 2016.’

Spurrier said that “the government has not announced an integral plan to adjust the economy to the new realities: the prevalence of low oil prices and a strong dollar in at least the next two years.” The specialist recalled that the price of Ecuadorian oil has been below $ 40 per barrel in the July-November period.

In his presentation he added that measures to reduce the consumption demand and simultaneously invigorate the domestic production, particularly exports, are needed.

Translated into English by Pierina Abad
Source: http://www.eluniverso.com/noticias/2015/12/09/nota/5287668/bajo-precio-petroleo-marcaria-nuevo-ano