Ecuador Economic Outlook
March 14, 2017The country may be on the verge of a regime change after no candidate was able to secure enough votes to win the 22 February presidential election outright, forcing a run-off on 2 April. Former vice-president Lenin Moreno of the ruling leftist populist Alianza País fell short of the 40% share of the vote required to avoid the run-off and will face off against center-right candidate Guillermo Lasso, who came a distant second in the first round. Despite Moreno’s relatively large victory in the first round, he may be unable to improve on his score enough to ensure a win. It appears a majority of the opposition is rallying behind Lasso in the run-up to the final round, with recent polls giving him the edge. It is unclear whether his early lead will hold and translate to the ballot box because he is generally disliked due to his past career as a banker and as an economic advisor to the government during the 1999 financial crisis.
Ecuador Economy Data
5 years of Ecuador economic forecasts for more than 30 economic indicators.
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Ecuador Economic Growth
March 14, 2017Rising oil prices are expected to lift the economy out of recession this year. The outlook remains subject to revision, depending on the outcome of the elections. Whatever the election’s outcome, it appears likely the incoming government will request the IMF’s assistance in dealing with its external debt problems. Our panelists see GDP expanding just 0.1% this year, which is unchanged from last month’s forecast. In 2018, panelists expect the economy to grow 0.7%.
Ecuador Economic News
March 10, 2017
In February, consumer prices in Ecuador increased 0.2% over the previous month, just above January’s 0.1% increase.
February 14, 2017
In December, economic activity expanded 3.3% year-on-year, according to the monthly indicator for economic activity (IDEAC, Índice de Actividad Económica Coyuntural).
February 8, 2017
In January, consumer prices increased 0.1% over the previous month, just under December’s 0.2% increase.
January 13, 2017
Ecuadorians will head to the polls on 19 February to elect a new president and members for the 137-seat National Assembly at a moment when the economy is stuck in the deepest recession seen since its dollarization.
January 6, 2017
In December, consumer prices increased 0.16% over the previous month, contrasting November’s 0.15% decrease.