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Government of Ecuador prepares more economic decrees

Quito, Jun 4 (Prensa Latina) The Ecuadorian government is preparing today other economic decrees that will be added to the two already sent to the Constitutional Court (CC) to implement a tax reform and establish free zones in the country.

The Minister of Economy and Finance, Pablo Arosemena, declared to the Teleamazonas channel that the next provisions to be presented before the court will deal with investment and the stock market.

In this way we want to stimulate the economy, create jobs, and we also have a project on fiscal balance to strengthen public finances, declared the minister.

He added these proposals were two years ago in the now dissolved National Assembly (Parliament) and there they were rejected.

The CC will analyze this week the first two decree-laws of supposed economic urgency sent by President Guillermo Lasso after applying the crossed death.

On June 6, the organization will discuss the so-called Law for the Strengthening of the Family Economy, which implies a tax reform that, according to the Government, will alleviate the finances of Ecuadorian households.

Two days later, the institution will evaluate the decree officially called the Law for the Attraction and Promotion of Investments for Productive Development, which includes the creation of free zones as a private, public or mixed initiative.

Analysts and leaders of social organizations expressed their concern that these measures deepen the neoliberal model in the country.

By the way, the economist and former candidate for the presidency Andrés Arauz warned that with the regulations of the free zones, Ecuador could become a tax haven, benefiting banks and facilitating drug laundering.

For his part, Andean parliamentarian Virgilio Hernández filed an “amicus curiae” with the CC, that is, a claim in which he classifies the provision relating to free zones as unconstitutional.

At this time, without the functioning of the legislature, the president is empowered to govern through decrees, but they can only be urgent economic matters and must have the endorsement of the CC.

Lasso seeks to further consecrate the business scheme that they have been implementing in the country since 2017, said historian Juan Paz y Miño in an exclusive interview with Prensa Latina.


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