The International Monetary Fund (IMF) lowered its forecast for Bolivian Gross Domestic Product (GDP) growth from 4% to 3.9%. Despite this adjustment, according to the Ministry of Economy, “Bolivia will have the highest growth in the region”. For this year, the Bolivian Government projected a GDP of 4.5%. The IMF also forecasted that Bolivia´s consumer price index (CPI) will end this year in 1.7% and the current account deficit will be of 5%.
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After the Directorate General of Civil Aeronautics (DGAC) temporarily suspended Bolivian Aviation Operations (BOA) of its eight classic Boeing CL 737 aircrafts in El Alto International Airport, the state-owned company will upgrade these planes to a 737 Next Generation (NG) version from the same manufacturer. The first plane is expected to arrive later this month and the second in November. The following six are expected to arrive in 2020.
José Luis Parada, the economic advisor of the Regional Government of Santa Cruz, said that the profits of Bolivian Fiscal Oilfields (YPFB) suffered a shocking drop due to the mismanagement of resources.
Potosí, Oruro and Tarija are preparing popular demonstrations for 16th of October. The Ombudsman’s and the Catholic Church urges the population to avoid confrontations such as those that took place in Potosí during the weekend.
During this electoral year, only the Ministry of Communication had $84.2 million allocated. If there is a second round, the Ministry will have more than $23.2 million.
YPFB is worth almost half of Bolivia’s GDP and is in the opposition’s sights, warns Minister Sanchez
The state-owned Bolivian Fiscal Oilfields (YPFB), nationalised in 2006, is worth around 20 US billion dollars, equivalent to nearly half of Bolivia’s Gross Domestic Product (GDP), which closed at 40.581 US billion dollars in 2018. The programmes presented by the opposition candidates infer that YPFB may be privatised, warned the Minister of Hydrocarbons, Luis Alberto Sánchez.
President Evo Morales on Saturday asked the civic leaders of Potosí to prepare a better proposal to industrialise lithium, against the projects that the Government currently has as well as the recent offer from India to install a lithium factory in that department.
The Financial System Oversight Authority (Asfi) reported on Friday that over the past nine years, funding towards women increased by 304%, ranging from $1.6 billion in 2010 to $6.5billion until August 2019. Asfi points out that today women account for nearly 40% of the system’s borrowers, thus closing the gap between men and women having the same access to financial services.
The World Bank (WB) published its latest biannual report “Latin America and the Caribbean: Trade integration as a path to development?” where it estimates a 3.9% Gross Domestic Product (GDP) growth for Bolivia as well as predicts slow growth for the region. According to the WB, the “disappointing” performance is partly due to the three largest economies in the region experiencing challenging times. In fact, Argentina is in an economic crisis, Brazil is coming out of recession and Mexico is suffering from an economic slowdown. According to the BM projections, Bolivia will present the highest level of growth, followed by Colombia with 3.3%; Chile 2.5%, Brazil 0.9%, while Argentina has a decrease of -3.1% as does Ecuador -0.1% of its GDP.
After three years, the expansion of the airport is expected to become a reality. $280 million investment is estimated. The announcement of the winning company, which will be responsible for executing the work, will be made this Monday.