BUENOS AIRES, Nov 6 (Reuters) - Argentina’s state-run energy firm YPF on Friday forecast its capital expenditure in 2016 would decrease toward the lower end of a $5-$6 billion range and said it expected a devaluation of the peso next year that would exceed inflation.
“We have a capex range of $5-6 billion. This year we will be close to the top end of that and I think next year we will be close to the lower end of the range,” YPF’s chief financial officer Daniel Gonzalez told an investor briefing.
Two weeks ahead of Argentina’s presidential run-off vote, Gonzalez said YPF needed more clarity on the economic plans of the next government before releasing a 2016 budget, but anticipated the peso would devalue at a rate higher than inflation. (Reporting by Richard Lough)