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Weekly Report - 07 November 2019 (WR-19-44)

ECUADOR: Moreno presents budget as talks grind on

Ecuador’s President Lenín Moreno sent a draft budget for 2020 to the national assembly on 31 October which tries to perform a delicate balancing act: stimulating economic growth and averting the threat of renewed social unrest. There is a strong chance it will accomplish neither. It was supposed to contain US$1.4bn of savings from the abolition of fuel subsidies but Moreno was forced to reinstate these on 13 October in order to end 12 days of protests during which eight people were killed, 1,500 injured, and some 1,200 arrested. The government is now locked in a dialogue process which is yet to deliver any tangible results.

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