The megaprojects have the ‘made in China’ label

Although the government claims to have several sources of financing, its major works are held by Chinese creditors. The budget execution report of 2015 shows that six of seven major hydroelectric projects -which received funds last year- were financed by banks of the Asian giant.

The Commission on the Economic System of the Assembly approved on Tuesday the report submitted by the Ministry of Finance on the expenditures and revenues of last year.

According to the General State Budget, approved in November 2014, public expenditure amounted to 36.317 million dollars. The amount had a cut of 2,200 million by the fall in oil prices and reached 34,117 million dollars. The accrual was finally of 35,745 million dollars, 1,628 million more than the modified value.

Source: http://expreso.ec/economia/las-megaobras-tienen-sello-made-in-china-GG392855