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July 22, 2024
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The Government’s announcement on investment of Bs 712 million in more than five industrial plants in Santa Cruz occurs, while 14 public companies created by the MAS between 2007 and 2023 are in the red, according to a legislative investigation. These companies not only do not generate profits, but also owe Bs 43,771 million to the Central Bank of Bolivia (BCB).

The Government’s commitment to industrializationAt a time of economic recession, this raises serious doubts about the viability of this strategy. Import substitution, a popular economic policy in Latin America in the 1950s, was initially effective, but in the long term it proved unsustainable and failed in several countries in the region.

Instead of insisting on economic models which have proven ineffective, the Government should focus on strengthening and cleaning up companiesexisting public institutions. The accumulated debt and the lackThe profitability of these entities indicates the need for a thorough review and restructuring. Industrialization and economic diversification are laudable objectives, but they must bebacked by solid financial plans.

Industrial development cannot be a political whim It should not be an ideological banner; it must be a well-planned strategy. It is crucial that the Government re-evaluate its approach and adopt economic policies that promote sustainable development, based on the economic reality of the country, and not on models of the past.

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