Inspenet, May 28, 2023
Despite the adverse international context and the downward projection of international organizations such as the World Bank, Bolivia remains among the top three economies in the region with the highest growth, assured the Minister of Development Planning , Sergio Cusicanqui.
“Bolivia is one of the economies that have shown the greatest dynamism despite this unfavorable context and confirms the return to growth with price stability and social justice, which in the end is what matters, within the framework of the productive community social economic model” , he stated on Bolivia TV.
The growth of the Gross Domestic Product (GDP) in 2022 closed at 3.5%, as shown by a growth in economic activity after the negative effects of the Covid-19 pandemic and the economic crisis.
Bolivia: A growing economy with industrialization projects and production guarantees
The GDP is the representation of the final result of the productive activity of the total resident production units of a country, in a determined time with the concurrence of factors of production, owned by residents and non-residents, and valued in monetary units.
Cusicanqui explained that there is an international context with high volatility and uncertainty, which affected the economies, especially of developing countries.
“There are inflationary processes in the United States and Europe that they have not seen in decades, growth is also being affected, the organizations are revising their economic growth forecasts downwards and despite this unfavorable world economic context, Bolivia manages to maintain itself and develop in a framework of economic stability”, he highlighted.
In 2021 the growth of the economy exceeded 6%. For this year, the General State Budget (PGE) projects a growth rate of the Gross Domestic Product (GDP) of 4.86%, an inflation rate of 3.57%, a fiscal result of -7.49% and exchange stability.
“The World Bank revised downward the forecasts for economic growth at the international level, however, despite the revision, Bolivia remains among the top three economies that would have the highest growth during the 2023 administration,” he explained.
The positive economic indicators, he affirmed, are also reflected in the delivery of works and the execution of projects in different regions of Bolivia, as well as in the progress in industrialization with the construction of factories with a view to generating a broad-based economy and guaranteeing food production.
The Government is poised to consolidate an industrialized Bolivia by the 2025 bicentennial with 130 new industrial plants in different areas, with an investment of more than USD 3.6 billion.
In Chuquisaca, the Government guaranteed an investment of more than Bs 560 million in three strategic projects: the Chaco Products Industry, in the municipality of Monteagudo, the expansion of the productive capacity of the Envibol Glass Containers plant, in the municipality of Zudáñez, and the Potato Industrialization plant in Chuquisaca, in the municipality of Incahuasi.
Cover photo : Freepik
Don’t miss the Inspenet News at: https://inspenet.com/inspenet-tv/
Loading...
