Arce does not mention the fall in reserves and confirms a slowdown in the economy | Arce no menciona la caída de reservas y confirma desaceleración de la economía

El Diario:

In his management report
Arce no menciona la caída de reservas y  confirma desaceleración de la economía

LUIS ARCE CATACORA YESTERDAY DURING HIS INTERVENTION AT THE ALP. PHOTO: RRSS

In his three-year speech, the President of the State, Luis Arce Catacora, avoided mentioning the fall in reserves and confirmed the slowdown of the economy, from 4.8% to 3%. Economists called the report half-truths.

The report presented by the President was compared with an already written script, which has been repeated since the beginning of the year and which is also disseminated in Government propaganda.

The president of the College of Economists of Tarija, Fernando Romero, said that although the Head of State speaks of a third year in terms of economic growth in South America; There are other countries in the Latin American region that will have higher growth than Bolivia.

Romero observed that he did not address the issue of the sustained trade deficit, which in August reached -47 million dollars, nor did he mention the hydrocarbon sector, where a negative balance is recorded, since 8 million dollars are required each day to import. fuels. The shortage of dollars continues in the national market.

Nor did he refer to the accelerated fall of International Reserves, whose status to date is unknown, but according to estimates by economists it would be a little more than 2,000 million dollars, after selling 17 tons of gold for a more than more than 1 billion dollars.

For Romero, there is a lot of information that was ignored, which shows the lack of transparency of the economic data, as well as the unsuccessful policies of the Central Bank of Bolivia, which generated the price of a parallel dollar.

Arce Catacora confirmed the slowdown of the Bolivian economy, indicating that for this administration they lowered the estimate from 4.8% to 3%, figures that show that the data has been falling since 2022, when it registered 3.5%, lower than 2021 which reached 6.1%, attributed to a statistical rebound, according to economists.

For this year, international organizations project Bolivia’s economic growth of 2%. For example, the Economic Commission for Latin America and the Caribbean, Bolivia will register 2.2%, the International Monetary Fund 1.8%, while the World Bank indicates 1.9%.

At the time, the economist, Gonzalo Chávez, indicated on his social networks that the slowdown comes from 2014 and culminated in 2019, a year later the economy entered a recession due to the pandemic and in 2021 it grew by rebound, but it was not enough to compensate the fall of 2020.

The Government strives to show that the Bolivian economy is solid and growing, a statement that is supported by statistics and political discourse.

The low inflation that the Government proclaims is not reflected in people’s pockets, since the street thermometer says the opposite and is reflected in the fairs and markets, where the prices of some products in the family basket increased.

The economist, Gabriel Espinoza, wrote on his Twitter, @g_espinoza: “Say what you want, but in 2020 the egg maple cost 20 – 24 bolivianos. Today you can’t get anything for less than 30. We know clearly where we are going.”

While the director of the Tierra Foundation, Gonzalo Flores, wrote on his Twitter @DonGonchi: “Luis Arce: it is dishonest to say that we have the lowest inflation, without saying that fuels are subsidized, that the exchange rate is appreciated and that Prices are set by subsidies and administrative barriers.”

And analyst Joshua Bellott Sáenz wrote on his Twitter: “@joshuabellott: imported food and beverages between 2022 and 2020 rose by 55%.”

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