73% of industrial firms will reduce staff in 2020 due to Covid-19

Only 1.8% of companies in the industrial sector plan to increase their workforce in 2020, while 73% plan to reduce it, said the president of the National Chamber of Industries (CNI) Ibo Blazicevic. According to the president of the Confederation of Private Businessmen of Bolivia (CEPB), Luis Barbery, more than 600 units from the poultry sector, about 400 travel agencies and 2,000 companies from the hotel sector announced the suspension of their activities in the last month.

Land certification advanced 86%, and only 14% is still pending

Land clearance and titling in Bolivia reached 88.4 million hectares, representing 86% of the total area of more than 102 million hectares. According to information from the National Institute of Agrarian Reform (INRA), 14% is still pending.

The Covid-19 costs between $500 and $10,000 per patient

The cost that each patient represents for the State is estimated between a minimum of 500 dollars per sick person and can reach $10 thousand if intensive therapy is required. In Bolivia, there is the Universal Health System (SUS), which covers 90 per cent of the costs, and to date, a total of 25,493 positive cases have been reported.

Bank deposits grew 5.5% in May, and loans increased by 1.4%.

Deposits in the financial system grew by 5.5% in May, while lending expanded by only 1.4%, with non-performing loans remaining stable. The total volume of deposits rose to $27.19 billion, and credits amounted to $26.77 billion. In annualized terms, deposits and loans increased by 5.6% and 5.5% respectively.

Government to allocate $125.4 mn to reactivate agricultural sector

The government plans to allocate 873 million bolivianos ($125.4 mn) to reactivate the agricultural sector. The objective is to guarantee food security for the Bolivian population, boost the economy, generate production and trade, support family farming, medium-scale agriculture, and agro-industrial export agriculture, and generate employment and income opportunities with a comprehensive view of the country.