Rector of the Ecotec University gives his opinion about the negative growth of the Ecuadorian economy
In an interview with Expreso Daily, Fidel Márquez, Rector of the Ecotec University University, spoke about the refusal of the Government to call recession negative growth of the Ecuadorian economy registered during the first semester of the current year.
Marquez claims that the Ecuadorian economy will not grow this year due to oil prices, “our main source of leverage for growth. That is hand in hand with the increase in consumption (of the government, of the private enterprise or the family): when these levels lower, it obviously sets the tone to why the economy does not grow. The Governmet was not capable of changing production structures to withstand these external shocks,” he said.
He suggested that we must bet on private investment and foreign direct investment. Although this would be given in the middle of next year.
He believes that 2016 will not be “necessarily negative” and it depends on the measures taken by the government and how effective are these “stimulus proposals for investment they have launched these days with an urgent economic law to be approved in 30 days in the Congress.”