Andean Group - November 2014 (ISSN 1741-4466)

Ecuador’s finance minister, Fausto Herrera, has sent a draft 2015 budget proposal to the national assembly for US$36.32bn, up 6% on this year’s budget. The budget proposal assumes an average oil price of US$79.7 per barrel, and includes a fiscal deficit of about US$5.4bn, or 4.9% of GDP. Herrera said the government is seeking to renew a US$1.5bn credit line with China to help finance its 2015 budget.

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