Part 3 - Economic Reforms: Capital Over People On June 21, at the request of the executive branch, Ecuador’s National Assembly approved the Productive Development Law, a law rejected by economists and activists for threatening social services and violating the 2008 Constitution. The law prohibits the approval of the country's annual budget with a primary deficit. A provision that according to Ecuadorean economist Andres Arauz, who worked in Ecuador’s planning agency and the Central Bank will adversely affect social spending. “ Every year there must be more revenue (taxes) than expenditures (education, health, security)... There are only two ways to make the numbers match. You either increase revenue or reduce spending, ” Arauz explained. However, the same law includes tax reductions and exemptions for foreign investors for up to 15 years, as well as exemptions for all new investments on paying the tax on currency sent abroad. Economists have warned that elimin