Central Bank of Ecuador says economy will grow by 4%

Central Bank of Ecuador

According to the projections of the Central Bank, in late 2013, the Gross Domestic Product (GDP) of Ecuador will grow by over 4% and the inflation will reach 4.4%.

Diego Martinez, president of the organization attributed these figures to a the sustaining of the basis of consumption and a better export performance..

Mateo Villalba, Central Bank manager, recalled Ecuador’s economic growth in 2011, which was 7.4%. He believe it is important to see the average growth performance between 2001 and 2012, which was 6%.

Villalba says the growth of the national economy in recent years is due to the “excellent and sustained performance of non-oil economy.”