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Ecuador Political News

Economic growth until 2025 will depend on the oil industry

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The country remains highly dependent on crude oil. The minimum increase in GDP since 2015 coincides with the deterioration of that industry.

When there are good oil prices and production at adequate levels, the country’s economy grows and well-being is experienced. But if the situation is opposite and the oil industry declines, the Gross Domestic Product stagnates, collapses or increases minimally.

In other words, Ecuador has been deeply dependent on crude oil and, facing the next five years, that reality will not change, which will require concrete actions from the next government to ensure that, at least, economic growth forecasts are met. established by organizations such as the International Monetary Fund (IMF).

To read the full story on La Hora, click here.

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