Day: Jun 25, 2020

Government forecasts GDP contraction of 5.9%, its lowest level ever

The Government estimates that the country’s Gross Domestic Product (GDP) will contract by 5.9% by the end of the year, the lowest level in the country’s history, due to the adverse effects of the Covid-19 pandemic. The Central Bank of Bolivia (BCB) indicated that cumulative inflation to May was 1.2% and expected to remain below the expected margin of 3.4% until year-end.

Government will invest $4.3bn to protect 4.5 million jobs

Bolivia’s government presented an economic reactivation plan, which contemplates the preservation and creation of 4.5 million jobs through the investment of 30 billion Bolivians ($4.3 bn). The Direct Job Creation Plan aims to create 50 thousand jobs per month. The municipalities will be able to present their projects to accompany the state plan.

Bolivia had a $102 mn trade deficit in April and May

Bolivia register a cumulative $102.25 million trade deficit in April and May. In April, the negative balance was $57 million, while in May, the trade deficit reached $45.25 million. The Bolivian state coffers are highly dependent on exports of products such as natural gas and minerals, which represent up to 81% of the country’s sales abroad.