Will Oil Price Be The Scrooge Of The Ecuadorian Economy?

ECUADOR - Report 26 Dec 2013 by Magdalena Barreiro
Executive SummaryThe strong fall in oil prices since October 2013 and less than optimistic estimations for the future forced government officials to come up with lower GDP growth rates for 2014 and 2015. Minister of Finance Fausto Herrera placed these rates at 4% for 2014 falling back to 3.5% in 2015 compared to recent estimates of close and above 5%, respectively.The government has put its hopes on the new mega hydroelectric projects that could start operating in 2015 and 2016 and on oil revenues coming from the exploitation of the ITT camps. Investment in electric projects will peak in 20...

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