The political and economic crisis remains Bolivia and in 2024 the deficit would reach 12% of the Gross Domestic Product (GDP) this year, revealed the economic analyst of the neighboring country, José Gabriel Espinoza.
Look: Bolivia: The economic model that did not work
According to him, his country has currently had a deficit of 11% of GDP for 10 years. Nearly 50% of this situation is a consequence of the subsidy provided to hydrocarbons.
“We have less income, more expenses and those expenses have to do with subsidies,” he said, although he indicated that “a change of cycle is coming.”
Added to this problem, the expert explained, is inflation that is already in double digits. “Bolivia has a productivity problem. “It consumes more than it produces,” he added.
WORRY
He specified that even before the pandemic, 31% of people had taken out debt in the last month, of which 70% was to buy things for the home and for investments. Today 49% of households go into debt, but more than half for current expenses such as food, school, among others.
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