The national government set up a Bs 150 million ($21.52 mn) trust fund through the Guarantee Fund for the Development of National Industry (Fogadin) so that the productive manufacturing sector can access credit and begin to reactivate the economy and replace imports.
The National Tax Service (SIN) reported that it exceeded by 3.5% the Value Added Tax (VAT) collection target projected for January 2021. We have collected Bs1.69 billion ($242.32 mn).
Yacimientos Petrolíferos Fiscales Bolivianos (YPFB) announced starting a pioneering renewable diesel production project in Bolivia with a new plant located at the Guillermo Elder Bell refinery in Santa Cruz, which will require an investment of $250 million. Bolivia will produce renewable diesel from vegetable oils and the reuse of waste oils and animal fats.
Amid rising diesel imports, which are growing by about five per cent annually, Yacimientos Petrolíferos Fiscales Bolivianos (YPFB) yesterday announced the construction of a renewable diesel plant in Santa Cruz. The plant expects to reduce fuel imports by at least $400 million a year, which average $1.6 billion.
Almost three months after the national government's announcement to carry out a diagnosis of the situation of the urea and ammonia plant to put it into operation, no progress made. The plant needs to repair the turbocompressor, ventilation towers, boilers, water intake and start-up generators. The work is estimated to take at least a year and cost a minimum of $20 million.
The financial system's profits fell by 58% in 2020 compared to the previous year. In 2020, the financial system's profits were $140 million, compared to $333 million in 2019, a year-on-year increase of 17%. The leading cause of the reduction in profits is the deferral of bank loans decreed last year and the current administration's grace period.