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Economy & Business - July 2025
ECUADOR: Higher costs but more opportunities after mining overhaul
Ecuador’s President Daniel Noboa is making big business pay to help balance the budget, while reopening the mining sector to new projects and cracking down on illegal activities that finance criminal gangs. In June, a few weeks after kicking off his second term in office, Noboa announced a first round of measures aimed at reducing this year’s budget deficit by around US$500m, thereby reducing the amount of money the government needs to borrow. The measures included a cut in fuel subsidies, an increase in electricity bills, and a tax on the mining sector.
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