The WTI Texas average oil price, the reference for establishing the export price of Bolivian natural gas closed yesterday with a drop of 9.5% and left the cost of the barrel at $28.70, its lowest level in four years. The Bolivian government said that the fall in prices would show effects in the country in three months.
The Government of Chile will close the borders this Wednesday, March 18, to prevent the spread of the coronavirus. The measure will not affect the circulation of cargo. 85% of Bolivia's imports arrive through Chilean maritime ports and pass-through Bolivian land borders.
The municipality of Santa Cruz will give a 50% discount on property, vehicle and patent taxes to alleviate the impact of the coronavirus epidemic on the Bolivian economy. At present, Bs 300 million ($ 43.1mn) of the almost Bs 700 million ($100 mn) were collected.
Each year vehicle imports in Bolivia exceed $1 billion. Based on information from the Single Registry for the Municipal Tax Administration (RUAT), in 2018 the vehicle fleet + reached 1,910,127 vehicles, 6.1% higher than that registered in 2017. The 92.8% of the vehicle fleet registered as Private Vehicles, 5.5% as Public Vehicles and 1.8% as Official Vehicles. The central axis (Santa Cruz, La Paz and Cochabamba) concentrated 78.91% of the total vehicle fleet. Vehicle smuggling generates tax evasion of approximately $200 million. The entry of contraband through the Free Zone of Iquique (ZOFRI) reaches $749 million for Bolivia, 31% corresponds to the automotive sector.
The work on the San Borja-San Ignacio de Moxos road in the department of Beni is 56% complete. The work of 139.6 kilometres and an investment of $ 245 million is in charge of the Chinese company CCCC, under the supervision of the Accidental Association INYPSA-DEYOB and the supervision of the Accidental Association Moxos Routes. More than 40 kilometres already have asphalt, 49.5 kilometres have sub-base layer, and the remaining 50 kilometres are at the level of the embankment.