Quito - Ecuadorian President Rafael Correa assessed the country''s economy in 2016, based on which he predicted a prosperous 2017 regarding finances.

Th president explained that the country overcame its investment goal of 5.6 billion USD and that deposits, credits and collections were improving.

'We finished the year with reserves of more than 4.2 billion USD,' he pointed out, adding that due to the agreement reached by the Organization of Petroleum Exporting Countries, the crude oil price was stabilizing and the general budget was calculated at 42 USD per barrel.

According to him, the country grew for two consecutive quarters, compared to the same periods in the previous year and they expect that the fourth quarter ends also with larger figures.

Ecuadorian Foreign Minister Guillaume Long warned the people in this South American country about the upcoming challenges they would have to face, internally and internationally, in 2017.

Long warned that this would be the year of the Ethics Agreement, a Government proposal to fight and eliminate tax havens, money laundering and damages to the national economyç, he asserted.