El costo de importar derivados caros supera el beneficio de exportar | Entrevista a Mauricio Pozo

Mauricio Pozo, former Minister of Economy, analyzed the real impact of international crude oil prices on Ecuador's public finances. He commented that the lack of domestic refining capacity forces the government to import massive volumes of fuel at international market prices. He indicated that the expenditure on imports and the resulting government subsidies end up eroding and even exceeding the extraordinary revenues obtained from the sale of heavy crude, generating a net loss that is detrimental to macroeconomic stability.