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Ecuador’s Parliament to analyze accepting Noboa’s economic bill

Quito, Jan 18 (Prensa Latina) The Legislative Administration Council (CAL) of Ecuador will analyze the urgent economic bill proposed by President Daniel Noboa for the recovery of assets of illicit origin, previously rejected by the technical team of the Parliament.

The initiative is the fourth sent urgently by the President to the National Assembly which does not comply with specific requirements of this type of texts, according to the Legislative Technical Unit.

The new proposal seeks to extinguish economic benefits associated with crime, strengthen the economy, promote citizen security and social justice, as well as to improve the transparency and concurrence of public procurement.

The initiative contains 66 articles, which would reform at least six current laws, and proposes the declaration of ownership in favor of the State by a judicial authority when the lawful origin of the assets cannot be justified.

Jurists warn that if the law is approved, two of the questions sent to the Constitutional Court for referendum would be unnecessary, specifically those related to the extinction of ownership and the seizure of weapons.

The Constitution allows the president to submit two urgent economic projects to the legislature simultaneously when the country is under a state of emergency, as is the case.

The Economic Development Commission is currently debating the proposal for the raising of the Value Added Tax from 12 to 15 percent, a measure to finance security actions within the framework of the declaration of internal armed conflict, but without popular or political support.

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