Gas revenues fell by 58% and Bolivia, from $3.5billion to $1.5billion

Bolivia’s gas revenues have reduced by 58% from 2013 to 2019, according to data from the Ministry of Economy. En 2013, revenues reached $3.5billion while by 2019 the will be around $1.5billion. Economists identify several causes for the drop: from the fluctuation of oil prices to a fall in natural gas production and the reduction of the demand in the main export markets (Brazil and Argentina).

Industrial sector worried for future governability in Bolivia

The leader of the National Industry Chamber, Ibo Blazicevic, expressed his concern about the future governability in Bolivia. He said that whoever wins the General Elections on October 20, will not have the control of the Congress, making it more challenging to govern the country. He also said that external developments such as the trade war between the United States and China, and the Argentine crisis harm the economy. He added that urgent adjustments are needed.

YPFB and Russian Acron agree to sale gas and urea in Brazil

The Russian company Acron and Bolivian State-owned YPFB signed an agreement to sell natural gas and form a company for the commercialization of Urea in Brazil.
The agreement calls for the sale of 2.2 million cubic meters per day (MMmcd) of Bolivian natural gas to Acron from 2021, for a period of 20 years. The agreement also specifies the creation of a joint venture for the commercialization of urea of the Bulo Bulo (Bolivia) and Tres Lagunas (Brazil) plants.

IMF lowers forecast of Bolivia’s GDP from 4% to 3.9%

The International Monetary Fund (IMF) lowered its forecast for Bolivian Gross Domestic Product (GDP) growth from 4% to 3.9%. Despite this adjustment, according to the Ministry of Economy, “Bolivia will have the highest growth in the region”. For this year, the Bolivian Government projected a GDP of 4.5%. The IMF also forecasted that Bolivia´s consumer price index (CPI) will end this year in 1.7% and the current account deficit will be of 5%. 

Boeing to renew BOA’s planes

After the Directorate General of Civil Aeronautics (DGAC) temporarily suspended Bolivian Aviation Operations (BOA) of its eight classic Boeing CL 737 aircrafts in El Alto International Airport, the state-owned company will upgrade these planes to a 737 Next Generation (NG) version from the same manufacturer. The first plane is expected to arrive later this month and the second in November. The following six are expected to arrive in 2020.