The performance of the economy reflected through the Global Index of Economic Activity - IGAE, in the first two months (January and February) of 2020 grew by 2.1% compared to the similar period of the previous year. The activities that influenced in this behaviour were the Manufacturing Industry with 0.5% and Agriculture, (includes the livestock, forestry, hunting and fishing sectors) with 0.4% growing in 3.1% and 3.6% respectively; on the other hand, the extractive activities (Crude Oil and Natural Gas and Metallic and Non-Metallic Minerals) presented adverse incidence.
Day: May 25, 2020
Frosts affect more than 50% of the production of the Valleys of Santa Cruz
Frosts affected about 80% of Postrervalle's production and 50% of that produced in the municipality of Quirusillas. These areas have potatoes, tomatoes, pumpkins and other vegetables are grown for consumption in the department, between 60%, and 70% of the consumption of Santa Cruz. There are 40,000 hectares cultivated.
President of CEPB proposes to inject $8 bn into the economy
The Confederation of Private Businesses of Bolivia (CEPB) estimated that to generate liquidity conditions the State would have to inject $ 4 billion with external financing and another $ 4 billion from domestic sources to meet the challenges of reactivation and employment generation.
YPFB and sugar mills resume negotiations to purchase ethanol during 2020-2023
YPFB expects to resume ethanol withdrawal between June and December, and projects to demand 52 million litres of the additive. A technical committee will evaluate the contract, and the mills will negotiate with representatives from four ministries.
Bolivia produces nearly 1,000 tons of corn per year; transgenic seeds endanger native varieties
Each year, Bolivia produces about a thousand tons of corn. Santa Cruz has 57%, Tarija 16%, Cochabamba and Sucre 10% each, according to data. It estimates that the consumption of corn in Bolivia is between 17 and 60 kilos per person per year and is the basis for the production of animal feed. The average corn crop yield ranges from 2.08 to 2.72 tons per hectare. The incursion of genetically modified seeds will put at risk the subsistence of at least 28 native varieties widely used in the production of chicha, pasqalla, ch'uspillo, api and others.
Bank profitability falls 8%, and low liquidity hinders reactivation
The effects of the coronavirus also hit the financial system. The Association of Private Banks of Bolivia (Asoban) reports an 8% reduction in profitability as of April, while liquidity, affected by the deferral of payments, is a huge challenge to meet the demand for credit for economic recovery.
