Bolivia Economic Outlook
January 18, 2022
Conditions likely continued to improve in H2, albeit at a more moderate pace, following Q2’s stellar GDP growth. Total remittances up to October were nearly 30% higher than in the same period in 2020, bringing inflows to a historic high. Meanwhile, growth in merchandise exports and imports moderated but remained robust in annual terms in July–October, suggesting solid demand dynamics. Moreover, the unemployment rate remained at October’s 20-month low in November, which, coupled with still-robust remittances, bodes well for spending at the tail end of the year. Meanwhile, following a sharp increase in infection rates, authorities announced that it will be mandatory to show a Covid-19 vaccination card or a negative PCR test to access public and some private institutions, starting from 1 January. The measure has been delayed to 26 January due to social unrest and an overwhelming increase in demand for the vaccine.Bolivia Economic Growth
GDP growth is set to soften this year, largely due to a tougher base of comparison. Still, robust private, government and capital spending will sustain activity. Risks to the outlook remain, including dwindling international reserves and a larger fiscal deficit resulting from the pandemic. Moreover, slow fiscal consolidation questions the feasibility of the currency’s peg. FocusEconomics panelists see the economy growing 3.4% in 2022, which is up 0.1 percentage points from last month’s forecast, and 3.1% in 2023.Bolivia Economy Data
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Bolivia Facts
| Value | Change | Date | |
|---|---|---|---|
| Exchange Rate | 6.91 | -0.14 % | Jan 01 |
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