Ecuador's inflation is expected to end at 3.14 percent in 2006, announced Minister of Economy and Finance Diego Borja on Thursday.

If Ecuador's inflation follows the momentum seen in July to December 2005, it will end at 3.14 percent in 2006, said the minister while announcing the country's new economic program.

The new program, a response to Ecuador's income windfall from the oil prices after the adoption of the new hydrocarbons law, is set to secure the economic stability, increase social investment and boost transparency, said the minister.

The country will spend more on educational infrastructure, hospital equipment and investment in the petroleum sector, he said.

The congress passed a hydrocarbons bill in March, which was set to revise oil contracts with foreign companies and thus increase Ecuador's share of profits from soaring oil prices.

Source: Xinhua