Builders report the debt of $286.9 million

The Departmental Chamber of Construction of La Paz, denounced that to date the government and the sub-national governments do not cancel the debt of Bs. 2 billion ($286.9 mn) for completed works. The construction companies are in economic crisis without being able to pay their bills owed to their workers and sub-contracted companies and are asking the new president-elect, Luis Arce Catacora, to attend to the demands for payment.

IMF forecasts a 7.9% drop in GDP by 2020 and 5.6% growth by 2021

The latest report from the International Monetary Fund (IMF) brings good prospects for Bolivia in 2021. For next year, the agency expects the country to have a 5.6% growth in its Gross Domestic Product (GDP). Concerning 2020, the IMF forecasts that the national economy will contract by 7.9%. IMF improved the projection for Latin America and the Caribbean; it would fall of 8.1% for this year due to the impact of the coronavirus.

Fuel imports fell by 60.9% in nine months

Up to September, according to data from the National Institute of Statistics (INE), fuel purchases, especially liquid ones, fell by up to 60.9% compared to the same period in 2019, with acquisitions reaching $451.8 million. Bolivia is a large importer of liquid fuels, and during the month of September, the country registered problems with the supply of diesel, the most affected region being Santa Cruz.

Builders’ crisis and the Covid-19 leave 250,000 workers without jobs

The Bolivian Chamber of Construction (Caboco) states that construction is in a strong recession and that the projection of figures is critical. To date, only 28% of companies in the sector have updated their registrations, 250,000 jobs have lost and the accumulated debt of more than Bs 2 billion ($286.9 mn) of the State with construction companies for the last year persists. It foresees a contraction of 18% of the construction sector.

Hydrocarbon exports fell by 41% and mineral exports by 23%

Hydrocarbon exports fell by 41% and mineral exports by 23% year-on-year between January and September 2020. Other sectors that registered a drastic fall in this period were textile apparel with a 64% drop, jewellery -37%, leather -36% and chestnuts -23%. Beef exports tripled their sales with a growth of 219%, followed by the export of sunflower and derivatives with 46%, cocoa with 28%, coffee 18% and milk 18% growth.

Bolivia exported urea for $4.76 million

Between January and June of this year, Bolivia exported 21,763 tons of urea from the Bulo Bulo plant in the Cochabamba tropics, for a value of US$ 4.7 million, according to data from the National Institute of Statistics (INE). Brazil and Peru were the only ones to acquire the fertilizer of the Ammonia and Urea Plant, of the state-owned Yacimientos Petrolíferos Fiscales Bolivianos (YPFB).

Banana exports to the Argentine market reactivate by 60%

The export of bananas from the Cochabamba tropics to the Argentine market was reactivated by approximately 60 per cent in volume. Producers estimate a total cost of 2.5 dollars per box and end up receiving only 1.8 dollars per pack, with a consequent loss of 7 cents on the dollar per box. Exports have maintained to preserve a market and in the face of competition from Ecuadorian bananas. Also, it was necessary to conserve employment for more than 2 thousand families in the Cochabamba tropics who live from this activity.