Ecuador Announces Reduction In Fuel Subsidies

(Energy Analytics Institute, Pierto Stewart, 2.Jan.2019) — Ecuador adjusted downward amounts estimated for subsidies contemplated in the country’s pro forma budget for 2019, approved in Nov. 2018 by the Assembly, compared to what was planned in Oct. 2018.

According to online media El Comerio, the country has reduced its fuel subsidy for imported naphtha by $1,311.3 million.

Subsidized fuel amounts in the country’s budget for 2019 currently represent an estimated 60% of total figures, while the remaining 40% correspond to another 11 grants for social and agricultural sectors.

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© Energy Analytics Institute (EAI)

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