In 2018, 5.3% less will be spent than during 2017

Ecuadornews:

According to the Budget Proforma next year, the amounts of Public Works and Amortization of Public Debt will decrease. However, the salaries of the state workers will increase.

The budget proforma of 2018 features a reduction of $ 1,965 million or 5.3% less than the General State Budget approved for this year.

Friday at the Economic Regime Commission of the Legislature, Economy and Finance Minister Carlos de la Torre explained that this proforma pursues the objective of progressively lowering the fiscal deficit, which was of 5.7% in 2016, 4.7% in 2017, and will be of 3.9% in 2018. “The main objective is to achieve, as soon as possible, fiscal figures that are sustainable in the long term,” said De la Torre.

When reviewing the main expenditures of the budget pro forma, a reduction in the cost of Public Works is evidenced. In 2017, $ 1,848.4 million was allocated, while in 2018 $ 881 million will be invested, that is, a difference of $ 967,000 million.

The Amortization of Public Debt also decreases. Of the $ 7,034.1 million allocated in 2017, a drop of $ 3,909.4 million comes next year, which means $ 3,125 million less.

On the other hand, in 2018, personnel expenses will increase to $ 9,538.8 million, compared to the $ 9,192.5 million spent in 2017.

An increase of $ 346.22 million will be allocated to pay Public Health, Education, Security and Justice staff. (I)

Source: http://www.eltelegrafo.com.ec/noticias/economia/1/en-2018-se-gastara-el-5-3-menos-que-2017