The Bolivian company Las Lomas has been thinking about building a steel plant in the country for eight years. Work began four years ago. Last February, operations started in the rolling sector and, at the end of July, the production of corrugated steel will start. With an investment of 177 million dollars, Las Lomas will produce 200 thousand tons of corrugated steel per year, equivalent to approximately 60 per cent of the national demand.
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.
Bermejo sugar mill expects to produce 600,000 quintals of sugar
Industrias Agrícolas de Bermejo Sociedad Anónima (IABSA) has the mill ready to start the sugarcane harvest on the 15th of this month. It plans to mill 350,000 metric tons of sugarcane and estimates to obtain 600,000 quintals of sugar and 2 million litres of alcohol.
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.
Call for lithium extraction attracts 19 international companies
Bolivian lithium continues to be of interest in the global context. The Vice Minister of High Energy Technologies, Álvaro Arnez, stated that more than 19 foreign companies applied to the International Call for Direct Lithium Extraction (EDL), which launched in April this year Yacimientos de Litio Bolivianos (YLB).
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.
Cumulative inflation to May reaches 0.28%
The National Statistics Institute (INE) reported this Friday that the Consumer Price Index (CPI) registered a negative variation of 0.16% in May 2021, compared to April. While the accumulated variation was positive at 0.28% and twelve months, it reached 0.54%.
Chamber of Forestry proposes to increase exports up to $1.2 bn
The Bolivian Chamber of Forestry (CFB) proposed an increase of up to $1.2 billion in timber exports. The entity presented a reactivation plan that contemplates increasing production units and employment generation. Source: Ámbito
