74% of the industries did not access or do not process the State Credit Plan for wages or business operation in the framework of the COVID -19 pandemic because of difficulties in accessing it. The Government approved credits of Bs1.5 billion for micro and small enterprises and a Plan to Support Employment of Bs2 billion. In the first case the loans have a rate of 11.5% and in the second, to pay salaries 3.73%.
In the face of the health emergency caused by the coronavirus COVID-19, the State managed three loans from the Latin American Development Bank (CAF), the International Monetary Fund (IMF) and the World Bank (WB), which totalled $624.3 billion.
The government of Cochabamba transferred 12 million bolivianos ($1.7 million) to the municipalities of that region, destined for laboratory equipment and the acquisition of biosecurity equipment for coronavirus testing. A total of Bs. 6 million will go to the purchase of biosecurity equipment and the rest to laboratory equipment.
Development Bank BDP launched a credit line of Bs.800 million ($116 million) to support the micro business sector in Bolivia. The credit will be targeted to companies that require working capital following the negative effects of Covid-19. Source: El Día
Financial institutions in Bolivia have so far channeled Bs.900 million ($130.5 million) in loans to companies through the Employment and Labor Stability Support Plan. This figure represents 45% of the Bs2 billion ($290.02 million) committed by the State to guarantee the wages of workers affected by the paralysis of the economy.
Ecofuturo, one of the youngest banking entities in Bolivia will have a credit portfolio of $500 million in the coming months, said the general manager of the entity, Gustavo Garcia. In an interview with La Razón, he said that as of May 31 the bank has 330,000 customers, including savings and current accounts and 70,000 credit customers.
The state-owned oil company YPFB increased, as of June 1, natural gas exports to Argentina from 16 to 18 million cubic meters per day (MMcmd), and gradually increased the export of energy to Brazil’s Petrobras. Natural gas requirements in Argentina in May, the month in which the Winter […]
Tax collection is Bs 107 million ($15.37 mn) less than last year. To date, Bs 200 million ($28.7 mn) of the Bs 690 million ($100 mn) expected to be collected by the end of the year has been received, which is only 30%.
The pharmaceutical market in the country moves approximately $100 million per year, taking into account transactions with pharmacies, state and private institutions, hospitals and clinics. Public spending on drugs is $41.21 million, and total pharmaceutical expenditure is $169.6 million. Private consumption on medicines amounts to 128.8 million, compared to overall health spending of $728.23 million. It means that 41% of the total health expenditure is for drugs. The Chamber of the Pharmaceutical Industry stresses that the sector is characterized by giving stability to the nearly six thousand workers and labourers who are currently performing their duties.
The World Bank’s projections for Bolivia for both 2020 and 2021 are not very optimistic. For this year, the international organization foresees a fall in the Gross Domestic Product (GDP) of -5.9% and a slight recovery of the economy with only 2.2% for next year.