Month: Mar 2020

Government of Santa Cruz will suspend eight projects for $ 5 mn

The Governor’s Office of Santa Cruz will suspend at least eight projects for Bs 35 million ($ 5 million), due to the fall in oil prices and the reduction of its income. The institution budgeted Bs 250 million ($35.9 million) for 2020 with a reference price of $52 per barrel of oil. The cost of crude oil fell to $20 per barrel, affecting income nationwide.

Government will absorb electricity expenses of nearly 2.5mn households

The government will absorb the electricity expenses of nearly 2.5 million households that do not exceed the consumption of Bs 120 per month, at the cost of Bs 282 million ($40.5 million). For household water and gas consumption, the Government instructed that these services should not cut off. More than 6.15 million family baskets will be distributed, mobilizing 90,000 tons of food for people without a fixed economic income.

Banana exports are down 60%

Due to the presence of the Covid-19, the restrictions in Argentina and the lack of return cargo, national carriers prefer not to travel and take care of their health, so banana exports fell by more than 60%. The economic damage amounts to an estimated three million dollars. In 2019 banana exports fell 10% in value and 8% in volume compared to 2018. In January 2020 the figure had a 10% drop in value. In Chapare, there are 7,800 hectares of bananas, and the national banana competes with Brazilian, Paraguayan and Ecuadorian fruit.

Mining exports drop 30% and put 50,000 jobs at risk

Mineral exports fall more than 30% in 2020, due to low Chinese demand as a result of the coronavirus. The situation becomes worse by the reduction in international prices and threatens 50,000 cooperative miners who could become unemployed. Bolivian gold exports reached only $0.4 million in January 2020, the volume of minerals exported fell by 16%, and exports to China fell by 15.2%.