Ecuador began the year with the highest outstanding payments

The Government had a floating debt of $ 2,456 million on December 31st, 2015. The regional governments, as well as builders, service providers and teachers are the most affected sectors by this debt.

That can be verified with the figures recorded by the Ministry of Finance. According to this Ministry, the government accrued (billed or undertook commitments) for $ 35,745.4 million, but only made actual payments of $ 33,199.3 million. That is, payments by $ 2,546.1 million are still pending.

According to the executive secretary of the Fiscal Policy Observatory, Jaime Carrera, that difference s known “as the ball or floating debt” and is the highest recorded in the period by the current government. The Finance Ministry disclose on its website that in 2014 the debt was $ 708.4 million.

He explains that the floating debt is like a snowball that grows, since the outstanding debt of last year is payed with resources of the following year and so on. (I)

Source: http://www.eluniverso.com/noticias/2016/01/17/nota/5348512/ano-empezo-mas-altos-pagos-pendientes