Illustrative image: the flag of Ecuador, by engin akyurt on Unsplash, Unsplash License.
QUITO, Ecuador — Ecuador’s National Assembly began examining the government’s 2027 budget proposal on Monday, November 2, a public holiday, with a headline total of $50,213 million. Officials told lawmakers the plan rests on an average oil export price of $66 a barrel, real economic growth of 2.5% and a fiscal deficit of $4,412 million, equal to 3.1% of GDP.
The proposal, known as the proforma, was sent to the Assembly on Friday, October 30, by the Ministry of Economic and Productive Development. The Economic Development Committee held its first session on Monday, where officials from several ministries presented the figures, El Universo reported.
The main numbers
- Revenue: $34,427 million, of which $24,863 million is permanent and $9,564 million non-permanent (oil revenue and asset sales).
- Spending: $38,838 million — $25,896 million permanent and $12,942 million non-permanent.
- Deficit: $4,412 million, which officials said is $1,014 million lower than the deficit projected in the 2026 budget.
- Borrowing: $13,671 million in planned domestic and external financing.
- Other assumptions: nominal GDP of $142,725 million, oil output of 165.6 million barrels and average inflation of 2.2%.
The headline total is larger than the separate revenue and spending lines reported in the coverage; officials did not detail the difference in the material reviewed by SagaTVec.lat.
Deputy Finance Minister Miguel Hernández said financing needs are lower than last year, which the government attributes to a liability-management operation in January 2026, when Ecuador returned to international capital markets. He said no fiscal rules have been breached so far in 2026 and that the government wants to rebuild investor confidence. The budget was built on conservative criteria because of oil-price volatility, officials said.
The tax agency (SRI) forecasts $20,703 million in tax revenue, which the government says includes measures already adopted and no new taxes. SRI planning director Juan Carlos Campuzano said 2027 collections would be about 4% higher than the expected 2026 close. Public investment would rise to $3,000 million across 301 projects, from $2,437 million in 2026, while the public health sector would receive $5,538.53 million. Transfers to local governments would rise to $4,345 million and to the social-security institutes to $3,955 million.
Deadline and dispute
The Assembly has 30 days to act, a period that ends on November 29, the day of Ecuador’s local elections, Primicias reported. If lawmakers do not decide in time, the government’s proposal takes effect automatically.
The opposition Revolución Ciudadana (RC) argues the budget should be handled by the Economic Regime Committee rather than the Economic Development Committee chosen by the legislative council, which Primicias describes as dominated by the governing ADN party and its allies. RC lawmaker Mónica Alemán questioned why the government would want to “hide” the debate by starting it on a holiday.
Confirmed and pending
Confirmed: the figures presented by officials on November 2 and the November 29 deadline. Pending: the committee’s report, the plenary vote and any changes lawmakers propose.
Sources
- El Universo — Assembly begins analysis of the 2027 budget (Nov 2, 2026)
- Primicias — Assembly starts budget review on a holiday (Nov 2, 2026)
Acsana Bander · Economy · Virtual editorial byline
English adaptation: Lin Wei · Editorial direction: Leonidas Ferraz · November 3, 2026 · AI-assisted writing
