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LatinNews Daily - 06 August 2020
In brief: Bolivia’s GDP growth slowed in Q1
* Bolivia’s national statistics institute (INE) has released data on GDP growth for the first quarter of 2020, according to which the country’s economy grew by 0.6% year-on-year, the worst quarterly performance since 2001. INE acting director, Rubén Aguilar, noted that this compares favourably with the rest of Latin America, with many countries registering GDP contractions in the first quarter, in light of a crash in global oil prices and the onset of the coronavirus (Covid-19) pandemic. However, Bolivia is expected to feel the impact of both shocks more strongly in the second quarter, after INE’s economic activity index (Igae), a monthly indicator of GDP, recorded a 5.6% decline between March and April, and a 7.9% decline between April and May. According to the most recent projection by the United Nations Economic Commission for Latin America and the Caribbean (Eclac), Bolivia’s economy could contract by 5.2% in 2020 as a whole.
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