Ecuador Forum

carolannemck
Joined 2008
Posts: 303

14 years ago

LP/gas subsidies

14 years ago

I don't know if any of you heard President Correa's radio talk last saturday morning, but he talked extensively about the current subsidies Ecuador has on petroleum products. He indicated that the cost of these subsidies was very high and that over 80% of them were going to people that did not need them. Anyway, to make a long story short, by the 4th quarter of the year, he plans to have a plan to provide subsidies to only to poorest of people. I guess this has been proposed for a long time, but until now, the President did not have the power to make it happen. I know these products are heavily subsidized here, but I have no idea what the cost would be without the subsidies; does anyone know? Just yesterday, my neighbor went into Otavalo to refill his propane tanks and found that most of the LP dealers had no gas. Apparently, they have cut production for some reason. I have heard various timelines for availability from 3 weeks to 2 months. Has anybody else heard anything about this?
Carol

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