In the opinion of Fernando Hurtado, president of CAINCO (Commerce and Industry Chamber of Santa Cruz), Gross Domestic Product (GDP) in 2019 will grow by between 2% and 2.3%, a point less than the original projection of 3.8%.
he repair of the Cochabamba’s Carrasco Pipeline (GCC), which last Tuesday was damaged following an alleged attack by groups related to the Movement for Socialism (MAS), will demand at least $500,000.
The Minister of Economy, José Luis Parada, confirmed the continuity of the board of the Central Bank of Bolivia (BCB) and dismissed any intervention to ensure the effectiveness of the monetary and economic policy.
Evo Morales has left a rather deteriorated economy with warn indications of unsustainability and economic instability, warned the economic analyst René Martínez, from the Jubilee Foundation.
The social unrest in Bolivia is impacting natural gas exports to Argentina. State-owned YPFB sent a letter to Argentine Energy Integration (Ieasa) notifying that: given the “current limitations” experienced by the company, the daily supply established by contract to Argentina, may be affected. Read more Source: El Deber
State-owned YPFB reported that the supply of natural gas to the west of the country dropped from 175 million cubic feet per day (MMcfd) to 75 MMcfd, due to the suspension of operations of the Carrasco-Cochabamba (GCC) pipeline.
Amid growing uncertainty about the health of the world economy, the International Monetary Fund (IMF) lowered its economic growth forecast in Bolivia from 4% to 3.9% in 2019, and 3.8% for next year. Despite the decline, the country is among the fastest-growing economies in the region.
The tax and custom collections in Santa Cruz, Bolivia, are paralysed due to the occupation of public institutions by protestors who demand President Evo Morales’ resignation. In September, tax collections at national level reached $3.8 billion, 5.8% more than September 2018.
The Government urgently needs to work on reversing the twins’ deficit: reversing the trade and fiscal deficits. Efficiency in public spending and the export incentive would drive this challenge. Read more Source: Eju!
Bolivia’s Economy Minister, Luis Arce, reported today that, according to estimates from the National Statistical Institute (INE), the country had an economic loss of $167 million in 14 days of political conflict. He also said that credit payments in the financial system are also impacted by the conflict.