Reuters.
Government spending on roads, hospitals and schools has made the 49-year-old U.S.-educated economist very popular with the poor majority, and he is well ahead of rivals in opinion polls.
The opposition is divided and lacks a charismatic leader.
Victory in the February 17 vote would give the socialist Correa a mandate for rolling out more reforms to increase state revenues from the oil and mining sectors. But dependency on oil exports in OPEC's smallest member is his Achilles heel, and he may be forced to reduce state spending should oil prices fall.
"We've done a lot but there's a lot more to be done, to turn this bourgeois state into a truly popular state that would serve everyone, especially the poor ... that's why we accept this nomination," Correa said in front of thousands of supporters after the ruling Alianza Pais coalition endorsed his candidacy at a raucous meeting in a Quito football stadium.
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