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  • No VAT Hike - WA#29
    No VAT Hike - WA#29

    July indicators overview

  • In March-June, VAT collections measured in 12-month rolling periods are rising at 6.0-6.2% y-o-y, down from 6.7% average in the previous three months. (WA#29)

  • GDP growth slowed down to .6% y-o-y in January–March 2019 (this is called T-4), from .8% in the previous quarter. In its first review report, the IMF reaffirms its -.5% forecast for 2019 and explains that “The slowdown in growth in 2019 is predicated on the contraction of domestic demand due to the impact of fiscal consolidation and the expected slowdown in credit growth as banks face tighter liquidity conditions.” (WA#28)

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Grupo Spurrier is the leading company in the development of key solutions and services for business success; it specializes in monitoring the economy and politics of Ecuador, as well as on economic research, market research, consulting and corporate training, models and business plans development, investment plans, and market power law consulting.

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Weekly Analysis Briefs

  • 29.- NO VAT HIKE

    All indicators point to a slowdown of the economy in the second quarter, continuing the trend of the first: a drop in consumer imports, slowdown of liquidity, SRI reports a fall in sales. There are now doubts on whether the government is going to come close to meeting its fiscal reduction goal, and it has now abandoned the aim to hike VAT. Presu...


    The first review of the economic program is in and the IMF speaks of the performance of the authorities in glowing terms. Steep cut in government investment and expenditures allow meeting the non-oil deficit reduction target, even though culling the payroll falls behind schedule. The overall deficit is larger than expected as the oil production tar...


    The ten largest businesses by sales of 2017 repeat in 2018, and exactly in the same order. Stability at the top. Regarding largest taxpayers, oil companies fall some slots, and banks climb the ladder. The 500 largest corporations of 2018 increased sales 7.9% y-o-y over the top 500 top of 2017, while income tax paid by the 500 largest taxpayers i...