From January to September 2018, the State has saved $ 222.6 million for the implementation of measures to optimize the quality of public procurement, informed Tuesday, October 16, Economy and Finance Minister Richard Martinez.
He said this in the context of the government’s optimization policies that the government is carrying out to reduce the fiscal gap. Before the Commission of Economic Regime of the National Assembly, the Secretary of State recognized the deceleration of the economy for the last quarter of the year.
He explained that Ecuador faces a situation of economic vulnerability due to a global context, the situation of emerging markets and the high rate of country risk, situation that could worsen the following year.
However, he assured that the regime works in mechanisms that allow productive reactivation, such as the disbursement of an additional $ 1,300 million for ventures through public banking with the “Credit, Investment and Employment for prosperity” program.
He also pointed out that in the coming days, the Government will announce a program to boost the construction sector, one of the most sources of employment in the entire country and that recorded sharp falls since the previous administration.
On levels of indebtedness, Martinez said that they exceed $ 5,000 million, so he stressed the need to get more income, reduce expenses and prioritize savings. In this regard, he stressed that by adjusting the price of fuel is expected to save $ 126 million.
Minister Martinez acknowledged that by 2019 the Government will have a fiscal pressure of around $ 2,000 million: for the values that must be disbursed according to the provisions of the Amazon Law, and for the restitution of 40% for retirement pensions.
Until the closing of this edition the appearance of the Minister continued in the legislative palace. (I)