Weekly Report - 11 October 2007 (INNS 1741-7422)

ECUADOR | Economic growth. The president of Quito's chamber of industrialists, Sebastián Borja, expressed his concern at the government's proposals to alter the economic model through the constituent assembly. Borja said that GDP growth was estimated at 3.4% this year, the lowest for seven years, while investment was falling alarmingly. Ricardo Patiño, the former economy minister and now minister for the coastal provinces, said that it was "one of the myths of neoliberalism" that GDP was the main economic indicator. He said there were countries that could have GDP growth and still see poverty grow while the government of President Rafael Correa had elevated poverty reduction to the top of its domestic political agenda.

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