Economic Deregulation Promised | Prometen desregulación económica

By Unitel:

“We are going to facilitate trade and productive activity so that the economy can recover,” says Paz’s economic advisor

President-elect Rodrigo Paz and his team met with business leaders from El Alto, where they pledged to restore macroeconomic stability

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[Photo: UNITEL] / President-elect Rodrigo Paz with his economic advisor José Gabriel Espinoza

Deregulating the economy and facilitating trade and productive activity in the private sector will be key to reactivating the country’s economy, said José Gabriel Espinoza, economic advisor to president-elect Rodrigo Paz, on Tuesday night.

Paz and his team met with business leaders in El Alto, where they committed to restoring macroeconomic stability and balancing payments in order to stabilize the exchange rate and the supply of foreign currency, Espinoza noted.

Espinoza explained that several “deregulation commitments” were made, aimed at giving breathing space to the productive sector, which for 20 years “has been systematically attacked by the central government,” but now, the private sector will be the focus of the new administration’s policies.

He said that all quotas and price controls that have done “great harm” to the productive sector will be eliminated, and that there will also be a policy to end “tax abuse” by institutions such as Customs and the Tax Service.

“All this will help facilitate trade and productive activity so that the economy can recover,” Espinoza said.

He stated that foreign investment will be promoted and called on the business sector to demonstrate what it can produce, as well as contribute with “work, innovation, and development.”

Espinoza pointed out that the president-elect’s trip to the United States and his outreach to various international organizations were a “very important signal” to the world and reiterated that not only were financial backings secured, but also technical cooperation and other forms of support.

The economic advisor assured that there are a series of agreements with “all international organizations,” which will be made public once the accords are signed.

He reiterated that on November 8, the country will have a normal fuel supply, but afterward, efforts will focus on restructuring fuel provision. He also confirmed that the shortage of U.S. dollars will begin to be resolved.

According to Paz’s advisor, the new loans obtained will not be used for spending and consumption but for production, with part of the resources directed to the private sector.

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