Accumulated spending limits the government management

Commitments galore and resources scarce. Tomorrow, the Government of Lenin Moreno will present the state budget for the rest of the year. The document will show the priorities and outlines of the new administration.

The disadvantage, however, is that analysts and politicians consider that the obligations and debts acquired by former president Rafael Correa leave left little room for the economic management of Moreno. The budget execution is an example. From January to July, according to the Ministry of Finance, the government spent 14,789 million dollars. About half of the budget spent in 2016 (29.835 million dollars).

There is no room for more, analysts say. The government of Correa left a colossal and challenging debt account. So far this year, Ecuador has obtained 9,002 million dollars in financing, close to 9% of the Gross Domestic Product (GDP).

President Lenin Moreno announced Monday that this year’s budget proforma would reveal “the exact economic situation of Ecuador.” (I)