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Investors see a clearer route to fiscal stabilization, says minister
Posted On 01 Aug 2018
Ecuadornews:
The Minister of Economy and Finance, Richard Martinez, explained that President Lenin Moreno’s recent visit to Europe came at a time when Ecuador’s perception of the world is being improved, in order to capture investments, sources of financing and so that we know how the economy was received.
“We need an active participation with complementary economies, with investors in the world, who observe that today there is a clearer route towards fiscal stabilization, towards the order of public finances, towards providing greater guarantees and incentives for them to place their resources in Ecuador, said the official in an interview to the news program Telediario de Ecuador TV.
However, Martinez mentioned that the work has not been easy, because the situation has been critical.
“We have received extremely aggressive indebtedness, with fiscal deficits accumulated in recent years that force decisions to optimize the size of the State.”
Martinez said that it is necessary to return to the private sector: microenterprises, popular and solidary economy, small, medium and large companies, the role of the engine of the economy.
According to the Minister, investors now perceive a management of the Ecuadorian economy more oriented towards the competitiveness, order and sustainability of public finances. The public servant addressed the issue of subsidies, recognizing that it is discussed at the level of public opinion.
“As a government, any decision we make is going to be responsible, protecting the poorest and we allocate about $ 3,000 million for that, part of which is transfers such as the Human Development Bonus, the Joaquín Gallegos Lara Bonus, which are instruments important social protection “, he clarified.
The Minister of Economy and Finance said that “you cannot put all the subsidies in a single bag”, not to mention everyone in general, so “you have to make a detailed general analysis of what is the effect of each one, at a consumption in the poorest and highest classes.
On Julian Assange and his influence on investments, Martinez indicated that the economic actors would be waiting to know what are the future decisions and the outcome of a topic of this nature, so that the President’s visit would be able to transmit to where he is leading the economy so that investors have a guarantee in the country. (I)
