The smuggling of eight categories of food and beverages generates a loss of $550 million and affects approximately 125,000 jobs nationwide.
Category: Macroeconomy/Finance
Information regarding Bolivia’s productive sector and the country’s macroeconomy.
The government says it has already executed $780 million in public investment
Public investment in the first five months of the year reached $780 million. For this year, the Government allocated a public investment of $4.01 billion in the General State Budget to reactivate domestic demand and strengthen the industrialization of natural resources, among others.
WB projects Bolivia’s GDP growth at 4.7%
The World Bank (WB), in its Global Economic Prospects report, ratified its March projection that Bolivia's Gross Domestic Product (GDP) will have economic growth of 4.7 per cent this year. The outlook is based on the assumption of moderate progress in distributing vaccines in most Latin American countries, fewer restrictions on movement, positive spillovers from advanced economies, and increased commodity prices.
Remittances from abroad rise 42%, but the level of NIR is still low
Between January and April, family remittances from abroad reached a value of 449.9 million dollars, an amount 42.1 per cent higher than that recorded in the same period of 2020. Both years are not comparable due to the variation in the behaviour of the pandemic. The BCB report indicates that the resources come mainly from Spain, Chile, the United States, Argentina and Brazil.
CNI estimates that smuggling increased by 10%, and 80,000 jobs at risk
The National Chamber of Industry (CNI) estimated that between 2020 and 2021, the smuggling of mass consumer products would increase by 10%. As a result, approximately 80,000 jobs are at risk due to the impact on the national industry. Source: Página Siete
Drug smuggling increases by 300%
In the first quarter of 2021, contraband drugs into the country grew by 300 per cent compared to the same period in 2020; the legal importation of drugs also increased, but only by 30 per cent. Source: Los Tiempos
80% of gas fields in decline
The figures of the gas business are stark. A study carried out by the Millennium Foundation, based on official data, indicates that 80% of the gas fields are in the process of decline. It also states that the refineries are operating below their installed capacity. Only 17% of the natural gas fields are under development, another 3% are in the maximum production stage (Plateau), and 80% are in the process of decline.
Government ratifies an economic growth rate of 4.4% for 2021
The Government ratified that the country will have a growth rate of 4.4%. The forecast based on the latest report of the Global Index of Economic Activity (IAGE) shows a grew of 5.3% in the first four months of the year. However, several sectors have asked the Government to present a reactivation plan and to accelerate public investment.
Government raises import tariffs on ceramics and glass containers
The Government approved Supreme Decree 4514, which provides an increase of between 15% and 20% in the import tariff on ceramic tiles and glass containers to protect domestic production.
Government lowers import tariffs on educational graphic material to zero
The Government approved Supreme Decree 4514, which lowers from 20% to zero the import tariff for educational graphic material.
