:star:Ecuador: Economic Development & International Marketing:star: -…
Ecuador: Economic Development & International Marketing
Ecuador became independent in 1830, and currently has Lenin Moreno as president, who reestablished relations with the United States as part of his policy. Ecuador depends mainly on oil exports, however many people still live in poverty
Ecuador has raised its score in terms of economic freedom, ranking at 158th place thanks to certain improvements in the country, PIB has risen, investments have been made with other countries to improve the economy, however it is still in low profit relative to other countries due to bad policies of the past.
Rule of Law
Property rights and enforcement of contracts have been weak in Ecuador
Processes remain slow despite this, the government continued to investigate high-level corruption
Government spending has amounted to 37.5 percent of the country’s output (GDP) over the past three years
The budget deficit has averaged 4.6% of GDP, while the tax burden is equivalent to 19.9% of total national income, leading to a public debt equivalent to 46.1% of GDP.
The government's openness to foreign investment is below the world average. Although the banking sector has grown, state meddling limits the overall growth of financial services
Total exports and imports of both goods and services is 45.9% of GDP
Greater access to (better quality services in education and social protection)
The trust funds financed various advisory services and technical assistance in areas such as the fight against malnutrition, the inclusion of disabled people and the improvement of the efficiency of the social protection system.
In addition, with a view to strengthening the country's capacity to produce timely and relevant data for decision-making, the World Bank, together with the National Institute of Statistics and Censuses (INEC) and SENPLADES, prepared The Poverty Report 2006 - 2014 and the Map of Poverty and Consumption Inequality 2014.
Results achieved in the country
All this with studies of the legal frameworks in order to reduce poverty.
The purpose of these studies is to focus on the development of various factors such as:
The dialogues resumed in 2014, where the world bank carried out analyzes in strategic areas of the country.
Integration of reforms in water supply
The World Bank mobilized resources to build institutional capacities to produce statistics on traffic accidents.
In 2016, the World Bank published an assessment of poverty associated with water services, provided technical assistance to the National Institute of Statistics.
It was sought to develop a national disaster response strategy.