Oil dependence reached a 70 percent

Image: Expreso

Paradoxically, the price of oil goes up and down like the waves _ of the beach where the first barrel was found in Ecuador, in Ancon, in 1911.

But this subliminal message was not caught and the national economy even depends on oil by 70%.

Santiago Bucaram, director of the Institute of Economics of the Universidad San Francisco de Quito says this to Daily Expresso. Alongside him, three more experts analyze the oil-dependent economy and the rudder turn that has to be done. Bucaram explains that the national economy depended only a 30% of taxable income, until a few years ago.

Many experts as Francisco German, professor of thw ESPAE, make an invitation to see Ecuador in the the long term and in history. Because to plan better days we have to see what has not been changed. When seeing the photo of Ecuador in 1990, we can see a country that exported oil, bananas, shrimp, cocoa, coffee and today is still selling, significantly, the same products.

Source: http://expreso.ec/expreso/plantillas/nota.aspx?idart=8886385&idcat=38269&tipo=2