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Quito –
The International Monetary Fund said Thursday that the Ecuadorian economy seemed to "cool down" this year, while acknowledging that it "still" accommodated external shocks, high budget deficits and high public debt. [19659002AmissionofthelateralgovernmenthasreachedatThirdmonththecollectionforregionalevaluationofcountrycountryeconomicsafteradecadeofrelationsfromthegovernmentofOutPresidentRafaelCorrea
The IMF warned that "the economy seems to be cooling down" because in the first quarter the country's gross domestic product (GDP) s & rsquo; Is contracted by 0.7 percent from the previous quarter.
In 2017, the economy grew 3 percent after the previous year's contracted by 1.6%.
"Ecuador remains accommodating in the face of external shocks that exposed structural imbalances in the country's economy," said the agency in a report released Thursday at the end of its visit to the South American nation
"Fighting fiscal imbalances remains an important political priority," he said. Martínez, acknowledged that the business could be affected in 2018 by the state resource optimization measures, which are applied as part of a plan to reduce spending for reduce the budget deficit.
The initial estimate of the growth of the economy for 2018 was 2%, according to official figures. Ecuador seeks to reduce its budget deficit from 7.2% of GDP to 5.3% by the end of the year.
"It is natural that this year growth has declined in its preliminary estimates, because we are in a process of optimizing the state and that will lead to growth that is not originally planned, "Martinez told the foreign press.
The government's approach with the IMF could lead the Andean country to apply for credit to the agency, according to analysts President Lenin Moreno said that they did not rule out any option of cheap financing
In its report, the IMF also pointed to the measures taken by the government to put fiscal policy back on track and stimulate the private sector with the approval of a new law productive development and said that "swift and decisive action is needed to address the vulnerabilities of the economy". (I)
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