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LatinNews Daily - 04 January 2019

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In brief: Ecuador

* The president of Ecuador’s national assembly (AN), Elizabeth Cabezas, has announced a 5% reduction in the AN budget for the year. The decision to reduce the AN budget is in line with the austerity measures promoted by the national executive led by President Lenín Moreno aimed at reducing the fiscal deficit. Cabezas explained that the budget cuts include salary decreases for the 137 legislators as well as the suppression of 270 jobs within the AN that will generate US$6m in savings, equivalent to around 10% of the AN’s budget in 2018.