Bolivia’s president highlights country’s economic growth in anniversary month

Bolivia’s President Luis Arce highlighted the country’s economic growth in 2021 and predicted similar economic performance in 2022 despite the unfavorable global situation.

“In its anniversary month, Bolivia can look to the future with hope, believing that with work and unity, we will continue on the path of economic growth in 2022. In 2021, real GDP grew by 6.1% compared to 2020, and nominal GDP also closed at US$40.703 billion,” he wrote on his official Twitter account.

On Aug. 6, Bolivia will celebrate 197 years of independence from the Spanish crown with a significant event in the country’s capital, Sucre (southwest), where Arce will give the government an economic report.

Bolivia’s fiscal program for 2022 forecasts growth of about 5.1 percent for the country and an inflation rate of about 3.3 percent by the end of 2022.

Globally, economic growth has slowed since 2020 due to the impact of the COVID-19 pandemic and the Ukraine-Russia war.