So it was stated yesterday by president Rafael Correa, who last week took his third consecutive term. The new budget, which will be approved by mid-year, will have an increase of 15% compared to last year.
“By law, whenever there are elections, we have to extend the previous year’s budget, which was about $ 26,000 million. We estimate that this year some $ 30,000 million dollars will suffice, “said the president.
Also Correa said inflation and economic expansion is projected at 4% this year, confirming what the Central Bank had anticipated in early May. “An acceptable growth, in recent years we have had more growth than estimated. This (year) gets harder because of the shutdown of the refinery (…) and that affects the rate of growth.”