Government sees GDP contraction of 5.9%, its lowest level ever

The Government estimates that the country's Gross Domestic Product (GDP) will contract by 5.9% by the end of the year, the lowest level in the country's history, due to the adverse effects of the Covid-19 pandemic. The Central Bank of Bolivia (BCB) indicated that cumulative inflation to May was 1.2% and expected to remain below the expected margin of 3.4% until year-end.

Government reallocates $1.99 bn from propylene plant to Employment Program

The National Program for Reactivation of Employment, which was presented this Wednesday by the Government, will have additional financing of Bs 13,880 million destined to the construction of the Propylene and Polypropylene Plant in Tarija. The Government said a bill was sent to the Parliament and demanded its approval to access the resources.

The government will transfer $40.1 mn to local governments until July 3

The national government committed to transfer until July 3, Bs 279,390,000 ($40.1 mn) from the COVID-19 Fund to 340 Autonomous Municipal Governments and Autonomous Indigenous Original Peasant Governments of Bolivia. This Fund is additional to the Law for the Recovery of 12% of the Direct Tax on Hydrocarbons (IDH) for the Autonomous Territorial Entities and Universities, which will benefit them with the return of $200 million.

Six drugs doubled and tripled their value due to pandemic

As the virus becomes more invincible and lethal, the prices of essential or recommended drugs to combat Covid-19, whether due to high demand or shortages, reach extreme values. The blister of 10 tablets of aspirin rose from $0.71 to $1.43; azithromycin of 500mg rose from $0.71 to $2.15 per tablet; ivermectin from $1.43 to $0.31; prednisone 20mg rose from $0.28 to $0.71; dexamethasone from Bs 0.71 to $1.43; and the cheaper chinstraps from $0.14 to $0.71.