Correa Bullish on the Economy

ECUADOR - Forecast 26 Nov 2013 by Magdalena Barreiro
Executive Summary President Rafael Correa sounded very optimistic when he announced sharply higher projections for economic performance, not only for 2013, but for the next three years as well.The government expects GDP to grow 4.1% this year, then 4.5% in 2014, 4.7% in 2015 and 6.5% in 2016. Authorities also expect 2015 oil production be flat on 2014, rather than to fall, as previously estimated. And they project a powerful increase in output, by 144,000 barrels per day for 2016, which would raise annual production to 219 million barrels –a 32% climb in expectations from July 2013. In Sept...

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