An Editorial from Los Tiempos:
TOWARD THE END OF THE BONANZA
After more than eight years, during which the good news on economic, followed one after another, to account for one of the periods of greatest prosperity in the history of the Bolivian economy, in recent days there have been two reports that should only be interpreted as the first sign of alarm over the possibility that the most pessimistic forecasts of the near future could be about to come true.
The first of the information to which we refer is the one that realizes that during the first month of this year, we saw the first drop in the value of exports of the last ten years. According to the Bolivian Institute of Foreign Trade ( IBCE ), the value of Bolivian exports fell 16 percent in January 2014 compared with the same period of 2013. On its end, and to aggravate the negative projections, imports grew by 2 percent, leaving during the first month of the year, a drop of 51 percent in the trade balance of the country.
Almost simultaneously with the diffusion of that report, it was made public the statistical yearbook of the Economic Commission for Latin America and the Caribbean (ECLAC), according to the report, Bolivia started in year 2013, in the first place of countries of the region that export raw materials, mainly oil and mining. Data would not be all bad, if it was not directly related to the fact that Bolivia is last in the list of countries exporting manufactured goods.
As is easy to see, the combination of all these statistical data, results in a very dangerous prospect if the trend is projected into the future. Is that, Bolivia, being the country most dependent on exports of raw materials and at the same time with the lower economic diversification, is accordingly, the most vulnerable to a possible fall in the price of raw materials in the international market.
From an optimistic view, the importance of these statistics could be minimized and encourage the concerned hope that it is only a brief interruption of the positive trend. However, if data are observed from a historical perspective, the fall will mark the end of an upward trend in the value of our exports which continued uninterrupted for the past 10 years. And the picture is even worse if the composition of our export supply is observed, it is seen that in the same measure that the relative importance of raw materials was increased, manufactured goods were decreasing. That is to say, with each completed year, our dependence on raw materials increased, making our economy more vulnerable today than a decade ago.
This being the reality, and as there is reliable data indicating that we are witnessing the end of a boom cycle, wouldn’t it be good, before it’s too late, that the necessary precautions are taken to ensure that the fall is not too painful.
Crystal clear!! So lets vote out current ochlocracy in the coming elections! Enough with the anarchy, envy, hatred that this socialists are doing to OUR country! Bonanza is over!!