Daily Archives: November 15, 2012

Signs of anguish… only in Bolivia

An important analysis made by Humberto Vacaflor G. from El Deber:

Signs of anguish

That the Government have to cancel the 30% tax credit on the purchase of fuel invoices or to order the national tax service in 2013 for a 30% increase in revenues, are signs of some internal anguish.

But, in addition, that the authorities of the economic system have decided to accuse judges, members of the judicial system and prosecutors, for the perversion of the justice system, accusing them of not been severe enough with tax evaders, is something to start praying.

This means that fiscal accounts are in red, while this Government received in five years the same amount of resources that were received, together, by the Governments of the past 20 years.

It is to say that with these distress signals it is admitting that the Government has squandered the largest amount of resources that have come to a single governmental management since 1825.

Ricardo López Murphy, former Argentine Economics Minister, helps us to understand this. In an interview in the program “no mentirás” [you shall not lie] told Jimena Antelo that Bolivians should conduct a simple exercise, to know how it has been the economic performance of the current Government.

The exercise consists of wondering if the investments grew at the same rate as the fabulous revenues received by the country by the high prices of the commodities it exports.

The answer is no, that didn’t come investments in proportionate volumes to the increase income made by exports.

‘Incidental elements’ that allow the Government to “enjoy the adventure of feeling lucky”, while previous Governments had very bad luck, were not exploited, at least to attract investment.

Conclusion: the Government has wasted so many resources, and now looks at the prospect that those fabulous fortunes are already not enough to cover their huge expenses. If only be, just this fortuitous situation, the country will be in red, which explains the anguish fund-raiser now observed.

The Government had very good luck, but the country does not, because the country got a bad government. The country has such bad luck! When Bolivia get these good gusts of prices, always ends with inept Governments.