The government's monetary authorities reviewed the 2020 Financial Program. They foresee a contraction of 6.2% of the Gross Domestic Product (GDP), and inflation of 1.7% and fiscal deficit of 12.1% until the end of the year.
In 2019, the Gross Domestic Product (GDP) of Cochabamba reached 6.22 billion dollars, representing 15% of the national GDP. According to information from the Bolivian Institute of Foreign Trade (IBCE), the exports of the department of Cochabamba are concentrated mainly in natural gas and forms of raw gold, but also a diversity of non-traditional exports such as the well-known bananas from the Chapare. In comparison, its foreign purchases are mainly of transportation equipment.
According to the latest report from the Milenio Foundation, one of the main reasons for the deterioration in hydrocarbon production in the country is the low foreign investment in this sector. From 2014 to 2019, investments in the industry fell by 82.09%. In 2019 the external capital resources that arrived in the country were $242 million, 0.6% of the GDP. Attracting investment is one of the most backward areas in the country, with regulations and institutions that provide little incentive for private and mainly foreign investment.
Bolivia and Chile will hold a virtual business conference from September 14 to 16 with the purpose of boosting trade and investment between both countries. In 2019, the value of Bolivian exports to Chile reached $92 million. Imports of Chilean products reached $458 million.
The Noel Kempff Mercado National Park, located in the municipality of San Ignacio de Velasco, in Santa Cruz, puts the country on alert, where to date the forest fire has destroyed more than 4,000 hectares. At a national level, it estimates that so far this year, the fire has already consumed around 500 thousand hectares. To date, there are 29 fires in the country, of which 19 registered in Santa Cruz and 10 in Beni.