Brian McAfee
2838 Mason Blvd.
Muskegon Hts., Michigan 49444
USA
(231) 737-8726
brimac6@hotmail.com
Ecuador's Increase In Social Spending Has Lifted Many Out Of Poverty
by Brian McAfee
Ecuador's social spending for the past four years, since President Rafael Correa took office, has quadrupled compared to the amount spent by his predecessors.
Prensa Latina reports that "Since President Correa took office four years ago, 15.851 billion USD has been invested in public works, 2.9 times more then during the three previous governments combined".
An important aspect of President Correa's policies has been a noticeable and ongoing reduction in poverty.
In 2009 38.3 percent of the population lived below the poverty line, in 2010 it was 35.1 and now in 2011 it is at 33.1 and is expected to continue declining. Public investment has been on the rise from 2.4 billion in 2007, 3.450 billion in 2008, 5.66 billion in 2009 and 5.331 billion in 2010.
In 2001 50% of the GDP earnings was used to pay Ecuador's foreign debt. Today the Correa government pays 15% of the GDP to the foreign debt the majority of the rest of the balance going to investments in public and social work projects for the common good.
Similar Pro People programs are now at work in Venezuela, Bolivia, Brazil's new President, Dilma Rouseff, and, perhaps, with Argentina's President Cristina Fernandez. Also, Uruguay's President Jose Mujica.
A possible addition to Latin America's Leftist Presidents as Peru's June 5 election could result in the election of Ollanta Humala, another potential Leftist.
I welcome any thoughts or comments contact me at: brimac6@hotmail.com
Brian McAfee