Ecuador’s public spending is 30.5% of GDP

According to the Preliminary Overview of the Economies of Latin America and the Caribbean prepared by the Economic Commission for Latin America and the Caribbean (ECLAC), Ecuador is one of the Latin American countries with higher levels of public spending over its Gross Domestic Product (GDP).

The report reveals that the Ecuadorian government expenditure in 2012 was equivalent to 30.5% of its GDP, while the average for the region stood at 22.9%.

Last year, the government spent 27.3% of GDP in the same game. By 2013, the government has prepared a budget amounting to 28,466 million dollars.

According to ECLAC, Ecuador may grow a 4.5% this year.