«If the budget cut is not enough, it will have to be adjusted a little more»: President Moreno

The president stressed that he will make a new adjustment if the situation becomes complicated

The President of the Republic, Lenín Moreno, asserted that he does not dismiss the possibility of making a new adjustment to public finances, since the situation for COVID-19 in the country is still uncertain. Furthermore, he reiterated that the estimated losses from this pandemic would be around USD 12 billion.

The president was asked about the cut in public spending that has been carried out in recent months and indicated that a new adjustment in the state’s finances is possible. This would imply a new cut of public servants or reduction of their salaries.

«It is important that the government has made the cut of 4 billion dollars and is waiting to make a new cut if the situation is complicated, I hope not.»

▶️#ATTENTION | Lenin Moreno about the budget reduction:

🗣 "It is important that the government has made the budget cut of 4 billion dollars and now it is waiting to make a new budget cut if the situation becomes complicated, I hope not." https://t.co/kS1OJe37Jz

— Pichincha Communications (@EnPichinchaU) June 4, 2020