LatinNews Daily - 16 December 2020

* The planning commission of Bolivia’s chamber of deputies has approved the state budget proposal for 2021 put forward by the government led by President Luis Arce, which will now be submitted to the legislature for final approval. With a recess scheduled for 21 December, chamber of deputies president Freddy Mamani has said that this will be the legislature’s top priority. A 2021 budget had already been submitted by the previous interim government before Arce took office on 8 November, but his economy minister Marcelo Montenegro attributed the lateness of this amended bill to the need to address “macroeconomic inconsistencies” in the previous budget, citing inaccuracies regarding state finances and disagreements regarding economic projections for 2021. The new budget plans for public spending of B$296bn (US$43bn), up from B$283bn in the previously-proposed budget, and adjusts predictions for inflation in 2021 from 3.9% to 3.1%, and for GDP growth from 4.2% to 4.8%, thereby setting the anticipated fiscal deficit at 9.7% instead of 11.3%.

End of preview - This article contains approximately 171 words.

Subscribers: Log in now to read the full article

Not a Subscriber?

Choose from one of the following options

• Subscribe
• Sign up for a one-time, 14-day trial