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Eduardo Valencia speaks of the national economic situation
Posted On 05 Aug 2015
The former head of the National Finance Corporation, Eduardo Valencia, in an interview with Ecuavisa, said he is opposed to an output of dollarization, but recalled that he lamented the loss of the national currency.
Valencia said that by adopting the dollar serious structural problems that have accumulated over the last decade have been hidden, especially in the last eight years, so we are now in a serious quagmire.
Referring to the issue of debt, he said that this is very serious, because the regime has wasted resources. “Two thirds of the expense of the nonfinancial public sector-the consolidated State- are current and non-investment expenses as the government intends to say with its sophist discourse.”
The former official has come to the conclusion that we have a consumer model, especially for imported goods, “we have squandered all foreign currencies and commodity exports.”
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