Ecuador: Public Sector Bloated from 35 % to 44% of GDP During Correa’s tenure (Opinion)

panamapost.com/Oswaldo Toscano – The Ecuadorian government has circumvented civil society and placed all planning in the hands of a political elite. The ruling party‘s socialist plan couldn’t have unfolded under more favorable conditions. A second boom in oil prices allowed the Ecuadorian government to roll out a model based on insatiable state spending and interventionism. The numbers demonstrate the state’s overbearing role in an economy dependent on oil revenues. During Correa’s tenure, the public sector has bloated from 35 percent to 44 percent of GDP. Under the guise of “social investment,” government ministers have carried out enormous projects at disproportionate costs…. Read Article

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