Lasso noted the deficit, which was 7.8 percent of GDP in 2020, could be even lower due to high oil prices in the international market, since Ecuador produces about 500,000 barrels of oil per day, and the price of crude oil is about 90 U.S. dollars per barrel, while the 2022 national budget was drafted on an average price of 59.2 U.S. dollars per barrel.
He said the macroeconomy is fine, but stressed the need to create jobs as the South American country reactivates its economy after more than two years of the COVID-19 pandemic.
"We have to generate employment, and the only way to do that is by promoting investment in strategic sectors such as hydrocarbons, electricity and telecommunications," he said.
Unemployment stood at 4.8 percent in March, meaning 397,645 people were out of work, according to the National Institute of Statistics and Census.
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