LatinNews Daily - 21 July 2021

In brief: Construction and mining drive Bolivian recovery

* Bolivia’s economy and finance minister, Marcelo Montenegro, has announced that construction and mining are driving the recovery of the country’s economy, which contracted by 8% in 2020 due to the impact of the coronavirus (Covid-19) pandemic. Montenegro said that construction activity in May was up 31.8% compared with the same month in 2020, whilst exports from the agricultural, hydrocarbon, mining, and manufacturing sectors totalled US$3.95bn – a 51% increase on the US$2.61bn of goods that these industries exported in May 2020. “We have a clear set of data showing that the economy is improving, in income, employment, and economic activity, and that’s because we’re betting on two important [economic] engines: income redistribution and public investment,” Montenegro said.