YPFB expects to increase its revenues by 35% in 2021

Yacimientos Petrolíferos Fiscales Bolivianos (YPFB) informed that the state-owned company would increase oil revenues this year, and its income will grow by 35 per cent compared to last year. The oil income will reach more than 1.9 billion dollars; Bolivia will use the resources to reactivate our economy by allocating the Direct Tax on Hydrocarbons (IDH), royalties, and other taxes YPFB contributes.

The insurance sector goes digital, and health policy sales increase 14%

Health and death insurance sales increased by 11 and 14 per cent in 2020 due to the Covid-19 pandemic; however, insurers must perform greater control during the sale of policies in the face of increased risk. Life insurance sales represent 49 per cent of the total insurance business.

Public debt exceeds 50% of GDP

Bolivia's total public debt (external and internal), with final data for 2020, exceeded 50% of Gross Domestic Product (GDP), which is a sign of the unsustainability of public finances and indebtedness. Up to December 2020, the external debt balance reached $12.17 billion.

Amaszonas reactivates 70% of its routes

After activities stoppage in 2020 due to the Covid-19 pandemic, the airline Amaszonas managed to reactivate 70 per cent of its routes and expects to recover more international destinations during the year. The company plans to recover the destinations of Sao Paulo and Rio de Janeiro in Brazil and Cusco in Peru.

Latin America’s tax revenues fell 11.2% in 2020

Total tax revenues in Latin America and the Caribbean decreased by 11.2% in 2020 compared to the previous year due to the impact of the pandemic on tax collection in Latin American economies. The most significant declines observed in excise taxes (-13.7%), followed by income taxes (-9.9%) and VAT (-9.2%), while all other tax revenues fell by 14.2%.