Ecuador’s Government Forecasts Economic Growth of 5.35% in 2012

Ecuador’s government projected gross domestic product growth in South America’s seventh-biggest economy of 5.35 percent in 2012, the fastest since 2008, according to a statement from the Finance Ministry.

The government expects inflation to rise 5.14 percent, or the fastest since 2008, next year, according to the document distributed in Quito today. It is forecasting oil prices of $79.7 a barrel and proposing a budget deficit of $4.23 billion.

To contact the reporter on this story: Nathan Gill in Quito at ngill4@bloomberg.net

To contact the editor responsible for this story: Jonathan Roeder at jroeder@bloomberg.net

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