Day: Nov 3, 2020

Price of Bolivian quinoa drops by 80%

The yield of Bolivian quinoa is up to 84% lower than in countries like Peru, Ecuador or Chile and its price has been reduced by 80%. The coordinator of the Quinoa Research Center (CIQ), Roberto Quispe, said that between 2013 and 2015 producers received Bs. 2,000 ($289.62) for a quintal of quinoa from companies that exported the grain. Currently, they only achieve between Bs.350 ($50.68) and Bs.400 (57.92).

Arce: Coming out of the economic crisis will take at least a year and a half

President-elect Luis Arce said that overcoming Bolivia's economic crisis will take between a year and a half and two and a half years. According to the President-elect, the projection of the Gross Domestic Product (GDP) for 2020 is between minus 8 and 11%. He also added that unemployment exceeds 30%.

Law to reduce rent to 50% published

The Official State Gazette published the Exceptional Law on Rentals (No. 1342), which establishes a 50% discount on rental fees, as part of the measures to mitigate the economic impact of the Covid-19 pandemic in Bolivia. The new norm also condones the payment of the monthly tax of the Complementary Regime to the Value Added Tax (RC-IVA), with the intention of also favouring the owners.

Chambers of Industry and Commerce announce merger

In order to improve their services and promote business unity, the National Chamber of Industries (CNI) and the National Chamber of Commerce (CNC) will carry out an institutional merger process. The new merged entity will represent more than 40% of the generation of the Gross Domestic Product (GDP), while 43% of the country's jobs will be in the areas that the new entity will represent, as well as 47% of the payment of taxes to the Tax Service (SIN).