Restaurants in Bolivia feel economic reactivation

RIO DE JANEIRO, BRAZIL – President Luis Arce highlighted this Monday that the country’s restaurants feel a necessary economic reactivation because they reported US$295 million in revenues between January and August 2021, which is equivalent to 37% more in relation to a similar period last year.

“Our restaurants also feel the economic reactivation. From January to August 2021, they billed US$295 million, 37% more than in the same period of 2020. In unity, we are pulling Bolivia out of the deep crisis left by the coup and pandemic. #EstamosSaliendoAdelante”, he said through a Twitter message.

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Last Sunday, the Vice Minister of Treasury and Public Credit, Sergio Cusicanqui, affirmed that Bolivia returns to the path of economic growth with the rebound of 9.4% to the first half of this year, which is the result of the measures implemented since November 2020 by the government of President Luis Arce.

“This good news is for all the Bolivian people: Bolivia returns to the path of economic growth with this 9.4 percent and also returns to occupy the first places in the region with this variable,” said the authority in contact with Bolivia TV.

He emphasized that the 9.4% growth is fundamentally driven by sectors such as mining (53%), transportation and storage (35.4%), construction (35.3%), hydrocarbons (17.2%), electricity, gas, and water (9.9%), commerce (9.7%), industry and manufacturing (9%), among others.

“All sectors are showing diversified growth. Just as there are sectors linked to external demand, such as mining or hydrocarbons; we have sectors, such as construction or manufacturing, which are also growing at exciting rates”, he pointed out.

The state authority highlighted that the economic growth is the result of the different measures implemented by the government of President Arce to reactivate the economy that was affected by the decisions of the de facto government and the COVID-19 pandemic.

The supply and demand measures implemented since November 2020 are the Bono Contra el Hambre (Anti-Hunger Bonus), the SIBOLIVIA credit line at a subsidized interest rate of 0.5% for import substitution, the Value Added Tax Cash Back Regime (Re-IVA), among others, he concluded.