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Minister of Economy says Ecuador met tax revenue target in 2017

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Ecuador’s minister of Economy says oil income in 2017 reached 2.1 billion dollars.
Photo: National Assembly

Ecuadorian minister of Economy says it is important to establish how a debt limit must be determined.

Quito, May 9 (Andes).- The Economic Commission of Ecuador’s National Assembly met with minister of Economy Maria Elsa Viteri who talked about budget implementation in 2017 and ratified that the tax revenue target was met.

“The tax revenue target was met, permanent revenue was 19.4 billion dollars and this was higher than fixed spending which reached 18.6 billion dollars,” said Viteri.

The official informed that the State’s oil income reached 2.1 billion dollars in 2017 and added that public investment was focused on education and health.

About the debt ceiling, which is currently at 40%, according to the Ecuadorian Constitution, she said it is necessary to ask ourselves what 40% means as the limit and what makes it possible to set a debt limit.”

She said it is necessary to analyze what is best for the country and how to determine such debt limit and added that it is important to thoroughly revise all regulations and everything that leads to indebtedness.

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