Jhonny Morales, a key official in Bolivia, recently shared the country’s ambition to conclude 2023 with a significant economic upturn.
He predicts up to 2.7% growth, citing stable prices as a reason. This situation gives the country an edge.
The nation saw a 2.21% rise by mid-year. This growth came from various sectors. Services led the way with an 11.11% increase.
The energy sector also contributed well. Finance and construction industries followed closely.
In services, dining and lodging made a big impact. Their 10.5% jump boosted the first half-year. This shows their role in the economy.
Morales pointed out domestic demand’s importance. It stands as the growth’s main driver. The country’s economic plan relies heavily on this factor.
He also noted the low inflation rate. At 1.48% in November, it’s much lower than in nearby countries. This reflects well on Bolivia’s pricing stability.
President Arce’s government focuses on keeping prices stable. They want to protect the people’s buying power.
Policies like subsidies for food and fuel help with this aim. They align with Bolivia’s community-focused economic approach.
Strategic plans support the growth outlook. These include boosting local industries to reduce imports. The government shows commitment through these efforts.
Morales believes Bolivia will end the year on a high note. Despite challenges, the country expects to show its economic strength.
This optimism positions Bolivia as a resilient force globally.