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Upheavals in Arab world oblige Nicaraguan authorities to redraw plans for economy

Friday, February 25, 2011

Popular protests in the Arab world have obliged Nicaragua to rethink its economic plans because of increases in oil prices.

Bayardo Arce, the president’s economic adviser, said that the 2011 budget was based on a crude price of $78 per barrel.

Plans will now have to be revised to handle expectations of a price of some $85 per barrel, Arce added.

Original source (in Spanish): Efe