Bolivia’s government projects economy to grow 5.1% in 2022

RIO DE JANEIRO, BRAZIL – The government of President Luis Arce presented on Thursday its general budget for 2022, whose goals contemplate a growth of the Gross Domestic Product (GDP) of 5.1 percent.

At a press conference, the Minister of Economic and Public Finance, Marcelo Montenegro, indicated that the General State Budget (PGE) 2022 also provides a 25 percent increase in public investment for next year.

The Bolivian official indicated that economic growth of 4.1 percent is expected to be achieved this year, which is about to conclude.

Montenegro added that by 2022 it is expected to reach an inflation rate of 3.4 percent and a fiscal result with a lower deficit than projected in 2021 of -9.7 to -8.0 percent.

Tax collection is expected to increase by 12.1 percent. It would go from 45 trillion Bolivianos (about US$ 6.5 billion ) in 2021 to 50 trillion (US$ 7.3 billion) by 2022.

The minister emphasized that “public investment will increase from US$4 to US$5 billion, an increase of 25 percent, which will be an important effort, financed 43 percent with external resources and 57 percent with internal resources.”

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