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In the last 5 years, Ecuador has experienced an increase in poverty and inequality rates, despite some progress in economic and social development. According to data from the National Institute of Statistics and Censuses (INEC), the Gini index, which measures income inequality in the country, has increased from 0.462 in 2017 to 0.470 in 2020.
This increase in income inequality has been a major factor in the increase in poverty in the country. According to the INEC, in 2020, 32.4% of the population lived in poverty, which represents a significant increase compared to the 25.5% registered in 2017. Likewise, extreme poverty has increased from 8.7 % in 2017 to 12.4% in 2020.
This increase in poverty and inequality has been attributed to several factors, including the economic recession that has affected the country in recent years, as well as the lack of effective public policies to reduce the gap between rich and poor. In addition, the COVID-19 pandemic has exacerbated the situation, with a significant increase in unemployment and job insecurity, especially in the most vulnerable sectors of the population.
Despite these challenges, the country has made significant progress in economic and social development in recent years.
GDP per capita has increased from $6,022 in 2017 to $6,738 in 2020, and the unemployment rate has remained relatively stable at around 5-6%. In addition, the country has implemented public policies to improve education, health, and access to basic services, which has contributed to improving the well-being of the population.
In conclusion, despite some advances in economic and social development, Ecuador has experienced an increase in poverty and inequality in the last 5 years, which represents a major challenge for the country. To address these problems, it is necessary to implement effective public policies that reduce the gap between rich and poor, promote inclusive economic growth, and improve access to basic services for the most vulnerable sectors of the population.