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Central Bank of Ecuador says economy will grow by 4%

Posted On 09 May 2013
Central Bank of Ecuador

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.”

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