Ecuador Economic Outlook
May 16, 2017The Ecuadorian electoral commission confirmed the victory of Lenín Moreno in the 2 April presidential run-off election against conservative candidate Guillermo Lasso. Mr Lasso had requested a recount of the vote, alleging widespread irregularities—several well respected exit polls had announced him as the winner on election night. The commission only agreed to a recount of some 10% of the ballots and the Organization of American States underwrote the commission’s findings, highlighting the transparency of the process. Lenín Moreno will be officially inaugurated on 24 May. He will have his work cut out, however: the economy, which emerged from recession in the final quarter of last year, is plagued by a very large debt burden. The adjustment process might be slightly easier than initially expected, as the economy gains momentum at the start of the year, according to the Central Bank’s economic activity indicator.
Ecuador Economy Data
5 years of Ecuador economic forecasts for more than 30 economic indicators.
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Ecuador Economic Growth
May 16, 2017Healthier oil prices will provide some level of support to economic growth this year. However, the country’s high debt burden will need to be addressed rapidly by the incoming administration. An abrupt external rebalancing could disrupt the country’s recovery. Our panelists see GDP growing 0.2% this year, which is up 0.2 percentage points from last month’s forecast. In 2018, panelists expect the economy to grow 0.8%.
Ecuador Economic News
April 19, 2017
In February, economic activity in Ecuador expanded 5.7% year-on-year, according to the monthly indicator for economic activity (IDEAC, Índice de Actividad Económica Coyuntural).
April 10, 2017
On 2 April, former vice-president Lenín Moreno of the ruling left-wing Allianza País party won the run-off presidential election by a narrow margin.
April 7, 2017
In March, consumer prices increased 0.1% over the previous month, just below February’s 0.2% increase.
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).