QUITO (Sputnik) – The President of Ecuador, Lenín Moreno, announced a package of economic measures that includes cuts of $ 4.06 billion in the public sector, to face the economic crisis caused by COVID-19.
“Again we start with the effort of the public sector. We will cut public spending of more than 4,000 million dollars, in salary mass 980 million dollars, in goods and services 480 million, in capital expenditure 1,300 million, in renegotiation of the debt we will save 1,300 million of interests “, said Moreno in a radio and television chain.
Given the fall in tax revenues, public spending is cut by $ 4,000 million; 7 public companies are liquidated; 5 embassies, 6 consulates are closed and 70 foreign officials return. We also reorder the debt. #AEcuadorLoSacamosTodos pic.twitter.com/OmC1SVLE84
– Lenín Moreno (@Lenin) May 19, 2020
More information soon.