The declaration of public calamity, which was issued by the Government through a supreme decree, will allow it access to economic resources of up to 2.1 billion bolivianos ($301.7 mn), an amount that represents 1% of the General State Budget (PGE) 2020, as established by the Political Constitution.
The creation of the new tax regime SIETE-RG, which seeks to encourage entrepreneurs with the payment of a single bi-monthly tax equivalent to 5 per cent of gross sales, can benefit approximately 180 thousand micro and small businesses nationwide. However, this amount represents only 30 per cent of this sector. Decree 4298 promotes the creation of new companies through this tax system to support entrepreneurship and also establishes other tax incentives aimed at economic reactivation.
Waldo Ramos Jurado, the financial auditor and former executive of the hotel sector in La Paz, is the new executive president of the National Customs Service (AN). He replaces Jorge Hugo Lozada, who resigned a few days ago.
The national government has secured a fund of Bs 300 million ($43 mn) for the advance payment of the Renta Dignidad bonus. The necessary resources are available to comply with the benefit, which can be collected since August and will reach more than 870,000 senior citizens in the national territory.
The quarantine did not change the dynamism of the demand maintained in food and medicine, not so in other areas of the economy, which has left a good part of the country’s productive apparatus in a lousy way, 20% of the formal active enterprises are at risk of becoming inactive. International organizations project that the national economy will close with a figure of -5.9% of GDP in 2020 and a recovery that will not exceed 2.5% by 2021.