Study determined that Ecuador does not save

Ecuadornews:

The 2016 ‘Save to develop’ report of the Inter-American Development Bank (IDB) concluded that Latin America saves little and badly, barely 18% of the region’s Gross Domestic Product (GDP).

For Natalia Garzón, executive director of foundation BienEstar of Mutualista Pichincha, this figure shows the reality regarding the saving culture maintained by Ecuador.

Currently only 25% according to the same study. The report also mentions the need to generate savings from households, businesses and governments, as an essential factor for the revitalization of the local and regional economy.

For the expert, saving is a fundamental habit that must be developed throughout life to enjoy good financial health, to fulfill dreams. “The Ecuadorian culture is still full of excuses not to save, among the most common: my income is not enough, I have many debts to pay,” she said. World Savings Day is celebrated on October 31 with the aim of highlighting the importance it has in the personal and family economy. This date was institutionalized in 1924 after the meeting of the first International Congress of Saving in Milan, Italy, after days of reflection. (F)

Source: https://www.eluniverso.com/noticias/2018/10/31/nota/7026515/ecuador-no-se-ahorra