Ecuador's President Lenin Moreno gives a speech to supporters from the government palace's balcony after his inauguration ceremony in Quito, Ecuador, May 24, 2017. [Photo/Agencies]

QUITO - Lenin Moreno was sworn in on Wednesday as president of Ecuador for the 2017-2021 term, promising to promote national dialogue and to build on the successes seen during the decade in power of his predecessor, Rafael Correa.

"To those who voted for us, to those who voted for other candidates and those who voted blank, all of you strengthened democracy, all of you have my respect...we will all take part in an...enriching national dialogue," said Moreno in his inauguration address.

Moreno, 64, who is wheelchair-bound, was sworn in as president in a ceremony at the National Assembly.

"From today, I am the president for everyone, I owe this to everyone, I respect everyone," said Moreno in a conciliatory and open speech. He admitted that the Ecuador of today was very different from that in the past and that there was a lot to do.

According to Moreno, over the 10 years of Correa's government, the Ecuadorian people recovered their self-esteem. However, the new leader also hinted that he will not follow Correa's confrontational style, preferring a lower profile.

The new president also used his speech to make it clear what his first policies would be, beginning with austerity.

"I will sign an executive order for austerity in the government. Every expenditure and investment will pass through an objective filter of our needs," announced Moreno.