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Economy & Business - June 2005
The swings and roundabouts of oil
The finance ministry reckons that the surge in oil prices will add between M$80bn and M$90bn (US$7.4bn to US$8.3bn) to the government's revenues. This is significant in a budget of US$155bn. The finance minister, Francisco Gil Díaz, said that the ministry was now assuming that the country would be able to sell its oil for an average of between US$35 or US$36 a barrel. The budget was struck on the premise of the oil price averaging US$27 a barrel.
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- The swings and roundabouts of oil
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