Bolivian Minister confirms deep drop of economy
La Paz, Dec 8 (Prensa Latina) The de facto government of Bolivia accelerated the deep fall of the economy and left the country in recession, the Minister of Economy, Marcelo Montenegro, remarked in TV interview.
A month after the administration of President Luis Arce began, the Minister described that the administration of Jeanine Añez stopped public investment, paralyzed employment and, 'obviously', the pandemic also added negative figures.
In an interview with Bolivia TV state television station, Montenegro reviewed the negative figures and belied the statements of the previous minister, Branko Marinkovic, who said that they left 17 billion bolivianos (almost 2.5 billion dollars) in the coffers.
The current Minister described the above as false, and assured the existence of 3 billion bolivianos (about 500 million dollars) in the liquidity of the General State Treasury and that 'they only served to pay a payroll.'
He added that the remaining 14 billion (2,037 million dollars) 'were to be managed', which shows the economic mismanagement.
Montenegro recalled that the fiscal deficit was at -5.6 percent in October 2019, but in December it ended at -7.2 percent. 'In two months (it fell) by two points in the Gross Domestic Product (GDP), he stressed.
Much money was spent by the transitory government, the Minister explained, and valued that these negative data were derived from the disregard of domestic demand, mainly in public investment, national works, among others.
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