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State purchases fall by $ 4 billion in three years
Posted On 22 May 2017
EcuadorNews:
The slump in works, purchases and contracting of services is recorded between 2013 and 2016. Public procurement continues to be hit by the pressure of public spending.
In 2013 the government invested $ 10,842,826,619,this contrasts with the $ 6,813,681,569 invested in 2016, showing a fall of $ 4,029’145,050.
This 37.1% decrease is verified by examining the figures released by the National Public Procurement Service (Sercop for its Spanish acronym) in its latest report on accountability.
The impact is also seen in the weight on the economy. Public spending in 2013 represented 11.5% of the Gross Domestic Product (GDP) and represented 33.5% of the General State Budget for that year. By contrast, public procurement in 2016 compromised the 6% of GDP and 23% of the State Budet.
