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BREAKING NEWS
Cristian Espinosa was appointed Ambassador of Ecuador to the United States
Daniel Noboa receives the credentials of the new United States ambassador
40,000 women will receive scholarships in higher education
Julian Assange released from prison, after agreement with the United States
Armed Forces: Criminal gangs have lost USD 1.2 billion due to military operations in Ecuador
Minister of Defense: “It is not fair that some risk their lives, while others play with justice”
How can green banana flour enhance baked goods?
“I’m crazy for wanting to serve my country,” says Daniel Noboa at the presentation of “La Cárcel del Encuentro” in Santa Elena
Construction of the Encuentro maximum-security prison in Santa Elena begins
National blackout in Ecuador due to transmission line failure, confirms the Government

Obama predicts an increase of the economy by 2015

Posted On 05 Mar 2014
Obama predicts an increase of the economy by 2015

Obama predicts an increase of the economy by 2015

According to the 2015 draft budget of President Barack Obama, the United States deficit will drop to a 3.7% of the gross domestic product (GDP) in 2014 and a 3.1% in 2015, while the economy will grow a 3.1 % this year and a 3.4 % next year.

On the other hand, inflation should go from 1.6% to a 2% in 2015 and the unemployment rate would fall to 6.4% in 2015. The Government’s proposal says that the budget deficit, which had expanded after the crisis of 2008, can be brought quickly to more comfortable levels and fall to 564.000 billion dollars, or 3.1% of GDP in the fiscal year that starts October 1.
However, Obama believes that the project will be blocked in Congress, since it includes increases in certain taxes and increase of expenses which the Republican opposition has rejected.
The budget for the fiscal year that begins in October is projected at 3.9 billion dollars, with a modest increase of 6.8% over the past year.
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