Ecuador for a 44 Dollar
Oil Barrel in 2009
Quito - Ecuador
has scheduled to count
on a standard price for
the oil barrel of 44
dollars each, so it made
its own plan for 2009
based on this strategy,
said Ecuadorian Economy
Coordination Minister
Diego Borja Monday.
“It is all about a
realistic value,
according to the
market’s circumstances,
and is a modest
prevision. We see that
the cost of the oil
barrel has started to
increase again, and in
the second half of the
year, another big
increase on the cost of
the oil barrel might
occur,” he stated.
Borja said that
restrictions will be
imposed to a series of
items, to reduce the
commercial balance
deficit, that went over
7 billion dollars in
2008.
“This is a very serious
deficit problem, we are
buying more than what we
sell and this puts the
dollarization in a great
danger. We will defend
dollarization, and for
that, we need great
incomes,” Borja
emphasized.
According to the
Ecuadorian minister some
products will not be
imported by Ecuador, for
a value of 1.1 billion
dollars.
As an example, he said
that 56 million dollars
were spent to buy apples
abroad, when Ecuador has
a province producing
apples, and he advocated
for an increase of
exports, in such a way
that the government
invests on the right
things for the country.
Financial resources will
be destined to
prioritize works being
built now, strategic
projects such as
refineries, oil wells
and hydroelectric plants
and the social sector.
He reminded there is a
need for a mining law to
regulate exploitation of
natural resources and
avoid contamination.
He assured that protests
and demonstrations
against this proposal
have a political
background, and
reasserted that mining
is a very important
sector in the economic
life of Ecuador. |
