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LATAM: Ecuador President Noboa Says 2025 Budget Deficit To Be In $2.0-2.8b Range

LATAM
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  • Speaking in a local radio interview, President Noboa said that the government is planning for the 2025 budget deficit to be in a $2.0-$2.8bn range, supported by one-off gains from oil and natural gas concessions.
  • Noboa said that new oil contracts will be production-sharing agreements that will provide a minimum 70% share for the state, according to Bloomberg.
  • The president also said that the country needs deep constitutional reform and that he is considering calling a constitutional assembly. However, he ruled out a tax reform in 2025.
    • "*ECUADOR'S NOBOA PLANNING BUDGET DEFICIT OF $2B TO $2.8B IN 2025"
    • "*ECUADOR'S NOBOA TO SEEK TO LIMIT DEFICIT THROUGH CONCESSIONS"
    • "*ECUADOR'S PRESIDENT NOBOA RULES OUT TAX REFORM FOR 2025"
    • "*ECUADOR'S PRESIDENT NOBOA SAYS MULLING CONSTITUTIONAL ASSEMBLY" - BBG
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  • Speaking in a local radio interview, President Noboa said that the government is planning for the 2025 budget deficit to be in a $2.0-$2.8bn range, supported by one-off gains from oil and natural gas concessions.
  • Noboa said that new oil contracts will be production-sharing agreements that will provide a minimum 70% share for the state, according to Bloomberg.
  • The president also said that the country needs deep constitutional reform and that he is considering calling a constitutional assembly. However, he ruled out a tax reform in 2025.
    • "*ECUADOR'S NOBOA PLANNING BUDGET DEFICIT OF $2B TO $2.8B IN 2025"
    • "*ECUADOR'S NOBOA TO SEEK TO LIMIT DEFICIT THROUGH CONCESSIONS"
    • "*ECUADOR'S PRESIDENT NOBOA RULES OUT TAX REFORM FOR 2025"
    • "*ECUADOR'S PRESIDENT NOBOA SAYS MULLING CONSTITUTIONAL ASSEMBLY" - BBG