President Lenin Moreno proposes new tax reforms in Ecuador

Ecuadorean President Lenín Moreno will propose a new tax reform project to the National Assembly this Friday, which keeps the population uncertain due to its possible impact on the poorest segment.

Concern was raised from statements made at the end of September by the Vice President Otto Sonnenholzner, who asked the population for understanding, given the economic provisions that were to be implemented.

The new proposal arrived late to parliament, which reopened this week after 11 days of the national strike against the elimination of fuel subsidy, decreed by Lenin Moreno as a preamble to the proposal of tax and labor reforms, causing convulsion and rejection in several sectors of society.

As stated by the Minister of Economy and Finance, Richard Martínez: “As things go, the president has decided to split the projects.” 

For his part, the President of the National Assembly, César Litardo, assured that he will foster an inclusive, pluralistic and responsible debate on the Draft Urgent Law on Economic Matters.

The entire country will then be aware of the content of the reforms, which are framed in the adjustment plan implemented to assume requirements of the International Monetary Fund, in exchange for granting a loan for $4.2 billion.

LAB/ Taked from Prensa Latina 

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