Poverty in Ecuador decreased 12 percent over the last seven years, the National Secretary of Planning and Development (Senplandes), Pabel Muñoz, said today, adding that the Citizen Revolution has made it a priority to see this trend continue.
According to Muñoz, seven years ago the poverty rate was at 37.5 percent, while by the end of 2013 the figure had dropped to 25.5.
Additionally, Ecuador’s Gini coefficient, which measures inequality, fell eight points, progress achieved by the political decision to prioritize investment in social and productive sectors, he said in an interview published in the El Telegrafo daily.
Among the actions implemented in this regard, Muñoz stressed the priority placed on paying the social debt before the external, the successful renegotiation of oil contracts and the repatriation of capital that the financial sector had kept idle outside the country and its redirection toward domestic production.
Muñoz also added that thanks to these measures Ecuador has achieved remarkable economic progress, as evidenced by the fact that the economy is growing by 4.3 percent per year, above the regional average of 3.4.
“We have the highest investment in Latin America, 15 percent of Gross Domestic Product (GDP), which has been directed to roads, health centers, schools and hospitals. Clearly public policy has provided a significant boost,” he said.
Muñoz also said that this is specifically shown in achievements like the universalization of education in the country, providing thousands of young people with scholarships to the best universities in the world, tripling access to public health services and significantly improving transportation infrastructure through the construction of modern roadways.
Muñoz mentioned the governmental challenge of modifying the productive and energy matrix of the country, and reported an investment of $1.5 billion USD in eight hydroelectric plants.
With this investment, by 2017 the country is expected to have 96 percent of its energy sourcing from clean and renewable sources, which will invigorate basic industries such as aluminum and steel. (PL)