“Bolivia received $US942.6 million for remittances sent between January and September. The money posted by Bolivian residents increased by 0.2% compared to the same period in 2017, according to a report from the Bolivian Central Bank (BCB).
Bolivia and Brazil look to renew its current gas sale contract with the addition of electricity. The current gas contract, signed in 1996, will end next year and a bilateral commision already start working on the terms of the new energy agreement, said the Brazilian ambassador in Bolivia, Raymundo Santos. Brazil is the main destiny of Bolivian gas exports.
President Evo Morales inaugurated a hybrid solar plan in the locality of El Remanso in Beni. The project required an investment of $US1.37 million. The plant has 524 solar panels and 144 batteries, explained Gerardo Lozada, general manager of Enersol, the company that built the plant.
The Indigenous Development Fund (IDF) invested more than BS. 70.6 million in productive projects in 14 local governments in Beni, said Bolivia’s Rural Development Minister, Cesar Cocarico.
Bolivia’s entrepreneurial base grew 5.6% during the first nine months of this year, from 295,829 to 312,471 companies. 80% of this companies are sole traders, according to a report from the Foundation for Business Development (Fundempresa).
Bolivia’s regions and the Treasury (TGN) will see an income reduction of Bs. 383million due to lower gas exports to Argentina and Brazil, according to a study of the regional government in Santa Cruz.
Mobile transactions in the financial system until September this year reached Bs.1,186 billion, 39% higher than the operations registered in the same period of 2017, reported the Supervision Authority of the Financial System (ASFI).
Bolivia’s trade deficit registered a substantial fell from $US713 million in the first nine months of 2017 to $US148 million in the same period of 2018, according to the National Institute of Statistics (INE). The main destine of Bolivian exports where Brazil, Argentina and India, while the main imports came from China, Brazil and Argentina.
Argentina and Brazil opened to foreign investment, and thus they managed to increase their oil and gas reserves. They also progressed to become self-sufficient in energy. Meanwhile, Bolivia stayed behind as there were no new oil and gas discoveries in the last decade. “Therefore the rules must be modified to attract private capital towards the hydrocarbon sector,” stated energy consultant Boris Gomes Uzqueda.
Argentina and Brazil have cancelled a debt of $US257 million to Bolivia for the purchase of gas, informed Bolivia’s Central Bank president, Pablo Ramos. He added that the money would increase the country’s international reserves.