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With oil at $ 50.05, the Government sent the 2019 proforma to the Assembly
Posted On 11 Dec 2018
Ecuadornews:
The Ministry of Economy and Finance reported on Monday that it sent to the National Assembly the budget pro forma for 2019, with 17 observations made by Parliament. There is considered a price of a barrel of oil at 50.05 dollars,compared to the $ 58.29 that were originally proposed.
The budget proforma amounts to 31,301 million dollars, “without considering the Deficit Derivative Financing Account (CFDD),” the State Secretariat said in a statement.
“The National Government, with the purpose of maintaining the oil revenues of the Budget Proforma 2019 and not increasing the financing needs (through generatinga greater global deficit), has planned to deepen the optimization analysis of the fuel subsidies during the fiscal year corresponding to 2019. Therefore, there venues of the Pro forma remain unchanged, “added the Ministry.
Another issue that was reduced in the proforma was for expenditures on public sector personnel. They reduced 135 million dollars, in addition to the 70 million dollars initially proposed, so the total cut would be $ 205 million.
“Regarding the observations, the Executive is ratified in compliance with the constitutional norm of increasing 0.5% of GDP (Gross Domestic Product) for Education and Health, as well as reallocating resources in favor of the universities and public polytechnic schools maintaining the global values of the 2018 budget “.
This issue generated protests from university sectors for apparent cuts, until finally an agreement was reached with the Regime.
The allocation of 350 million dollars for the retirement benefits is maintained,there will be 79,449 million for the National Council for Human Mobility Equality and $ 156,998 million for the National Council for the Equality of Peoples and Nationalities.
On the subject of gender violence, the Government allocated 7.71 million dollars to the Council of the Judiciary and 6.69 million dollars to the Attorney General’s Office “for the creation of work teams in each canton specializing inviolence of genre”.
Finally,the Ministry indicated that the Regulation for the Law of Productive Development is about to be finalized, which will be sent to the President of the Republic Lenin Moreno so that it may be published in the coming days. (I)
