In his first hours as part of the economic team of the government of Daniel Nobo Azín, the new Minister of Economy and Finance, Juan Carlos Vega Malo, met with several multilateral organizations, including the Development Bank of Latin America (CAF). .

The appointed minister assessed their meeting as positive and said that a request was sent to that body to support President Noboa’s projects in job creation, growth and economic revival. But also to cover the fiscal deficit. Although figures are not being discussed with OSRH yet, Vega Malo announced that he has also met with other multilateral organizations and believes that he will have an action plan next week.

As for the deficit, he said that it will certainly be above 2,000 million dollars, and assured that various sources are being studied to cover it, which includes the support of the private sector.

Economic experts estimate that the deficit will amount to at least 5 billion dollars by the end of the year. By October, it would amount to more than 3.2 billion dollars.

Meanwhile, Vega said he had already agreed with the president on a plan to reactivate the country, betting on youth employment and trying to fulfill his pre-election promises.

When asked what worries him after taking over this state department, he answered: “I am not worried at all” and admitted that it is a difficult challenge. He commented, for example, that there are problems with cash, the deficit and structural issues that must be resolved.

Indeed, this November 17, the fiscal fund reached 179.7 million dollars, the lowest since 2016. According to experts, this figure, since it is so low, puts at risk the payment of salaries for November, but also those for December (normal salary and bonus ). . On this occasion, the minister said: “This is what we do” and clarified that they do not want to appear unfulfilled in front of anyone.

Regarding the definition of the basic salary, which is currently being discussed in the Labor and Wages Council, the minister said that it is always desirable to earn more, but the consequences in terms of employment are also important.