Bolivia is currently ranked 20th in economic growth | Bolivia en puesto 20 de crecimiento económico

El Diario:

  • The slowdown began in 2022, and there has been stagnation since 2024, leading to the current shortage of dollars and increased inflation, as stated by the Tarija-based economist, Luis Fernando Romero.

Bolivia ranks 20th out of 28 countries in the region, with a projected growth of 1.4%, which is below the growth of Latin America and the Caribbean (LAC) and the regional average of 3.72%, according to the latest report from the World Bank.

Luis Fernando Romero Torrejón, the president of the Departmental College of Economists of Tarija, stated that this slowdown, which has been occurring since 2022 and stagnation since 2024, is mainly due to fiscal issues, excessive public debt, and a deficit persisting for 11 consecutive years, resulting in the current shortage of dollars and higher inflation.

The latest World Bank report titled “Competition: the missing ingredient for growth” has determined that the GDP growth of Latin America and the Caribbean will be 1.6% for 2024, one of the lowest in recent years, stemming from an unrecovered post-pandemic economy, fiscal problems, public indebtedness, and the international situation with inflationary pressures and still high-interest rates.

Economist and university lecturer Gonzalo Chávez highlighted on his X account that the projections refute the government’s “propaganda,” emphasizing the need for corrections in economic policy, considering that fiscal revenues have declined, and there is a high public expenditure supported by increased external and internal debt.

“Projections and data indicate that we are in a rather complex situation,” Romero expressed.

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