Fiscal Balance in Ecuador

Ecuador Fiscal Balance | Economic News & Forecasts

Ecuador - Fiscal Balance

The economy entered the final quarter on a promising note, with economic activity growing at an accelerated pace from the third quarter’s mild upturn in growth. Overall activity sped up in October, buttressed by a tepid increase in oil exports despite a contraction in petroleum production in the January–October period as the country’s state-owned oil company Petroamazonas EP continued to cut output. However, while still strong, the trend of the past three quarters suggests that the inflow of remittances continued to weaken into the fourth quarter. Coupled with milder credit growth, this likely curbed private consumption growth. On the fiscal front, before the close of the year, the government announced cuts to gasoline subsides and public sector salaries, aimed at reducing the fiscal gap by USD 700 million. Moreover, a USD 900 million loan secured from China in December should aid the Andean nation in financing its 2019 budget, with the IMF also possibly lending financial support.

Ecuador - Fiscal Balance Data

2013  2014  2015  2016  2017  
Fiscal Balance (% of GDP)-9.9  -9.6  -6.2  -7.4  -5.4  

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Ecuador Facts

Exchange Rate25,0000.0 %Jan 16
Stock Market1,4130.17 %Jan 16

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