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Quito, Jun 14 (Prensa Latina) Ecuador's Secretary of Public Administration, Arturo Felix Wong, announced Friday that the plan to eliminate fuel subsidies will be announced next week, despite rejection of various social organizations.
Economy Minister Juan Carlos Vega said that the government will also add 15% VAT (Value Added Tax) from April onwards.
The government of Ecuadorean President Daniel Noboa has proposed raising security spending by $214 million in 2024, as it deploys the military to help fight violence blamed on drug trafficking gangs, and could raise value-added tax to 15% from April. Noboa declared gangs to be terrorist groups last month after the latest surge of violence, when dozens of prison guards were taken hostage and gunmen invaded a television station during a live broadcast. Security spending would reach $3.52 billion u
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