Category: Macroeconomy/Finance

Information regarding Bolivia’s productive sector and the country’s macroeconomy.

Bolivia increases fuel imports.

Fuel imports in Bolivia increased by 29% between January and October 2019 compared to the same period in 2018. In value, the increase is 26%. The National Hydrocarbons Agency (ANH) considers biodiesel production a challenge to reduce foreign exchange output by import and diesel subsidy, as well as lower pollution rates generated by fossil fuels.

Bolivia's industry sector proposes freezing national minimum wage at $307

The National Chamber of Industries (CNI) proposed the Government to increase the basic salary by 1.47% and to freeze the national minimum wage at Bs.2122 ($307.06). CNI’s economist explained that the proposal to freeze the minimum wage is because of the lost of competitiveness in Bolivia’s companies, while the increase on the basic salary is be in line with 2019’s inflation.

Bolivia's external debt reached $11.056 billion as of November 2019

Bolivia’s external debt reached $11.056 billion as of November last year, which represents 26% of Bolivia’s Gross Domestic Product (GDP). According to the president of Bolivia’s Central Bank (BCB) the current ratio is under the international standards. Bolivia’s external debt increased from $2.269 billion in 2007 to the mentioned $11.056 billion in November.

Bolivia aims to sign a new adenda to the gas contract with Argentina

A technical commission from Bolivia is in Argentina to start negotiations for the signing of a new addendum to the gas purchase agreement and to stabilize the volumes demanded by the neighbouring country. Bolivia’s YPFB president, Herland Soliz, explained that the current contract addendum establishes export volumes of Bolivian gas of between 16 and 18 million cubic meters per day (MMmcd) in winter and from 10 MMmcd to 11 MMmcd in Summer.

Bolivia's international reserves reach $6.429 bn

As of January 9, 2020, Bolivia’s net international reserves reached $6.429 billion, said the president of the Central Bank of Bolivia, Guillermo Aponte. According to Aponte, international reserves reached $15.1 billion in 2014, but have gradually declined since then due to external factors and falling exports.

$16 million worth of beef exported to China

The livestock sector has exported 3,000 tons of beef for $16 million to China. Óscar Ciro Pereyra, president of the Santa Cruz Cattlemen’s Federation (Fegasacruz), reported that there is a surplus of 40,000 tons of beef that can be exported, in addition to China, to markets such as Russia. Also, production for domestic consumption is around 200,000 tons, which has generated an income of $500 million.