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External debt sets record in 2015
Posted On 08 Sep 2015
Image: Expreso
Since 2007, the public debt experiences an accelerated growth. In eight years, the increase is 19.132 million dollars. Of this value, what was hired this year has a special mention. There is a record in bank assets from abroad.
In early 2007, the State’s commitments came to 13.872 million dollars. The government of Rafael Correa increased the state budget, public investment, the salaries and also the hiring of debt. The authorities justify the expenses arguing that with the resources works the country needed were built.
President Correa gave an example on Saturday. In his view, the $ 450 million used for projects to prevent floods by El Niño phenomenon are indicative of “the excessive government spending.” An expense, he pointed out as urgent, and that will generate savings of 300 million dollars annually.
Ecuador finished 2014 with an overall debt of 30,140 million. Of this total, 17.581 million dollars corresponded to external commitments. Until July this year, the overall amount reaches 32,624,000. Of that, 20.385 million were international pendings.
That is, in so far this year, the government has contracted debts of more than 2.804 million dollars with other countries or external bodies. A higher value when compared to the same periods in previous years.
Source: http://expreso.ec/expreso/plantillas/nota.aspx?idart=8355554&idcat=38269&tipo=2
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