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Ecuador Political News

Dow Jones – Ecuador To Spend $5B On Subsidies In 2012 – Finance Minister

This article discusses the structure of Ecuador’s government budget and how subsidies, much of which would be for fuel, fit into the picture:

For 2012, the government has proposed to the National Assembly a $26.11 billion fiscal budget, a 9% increase over the $23.95 billion plan it submitted for 2011.

Next year’s proposed fiscal budget has a deficit of $4.23 billion, but Rivera said it already has secured financing.

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