According to the vice minister, this indicator and an inflation rate of 1,16% up to July this year ratify as an example the economy of the country for its high growth and price control.

The day before, the Ministry of Development Planning officially reported that, driven by domestic demand, Bolivia’s GDP registered a growth rate of 2,3% in the first three months of 2023, which “ratifies the country’s return to the path of economic growth”.

Ajata explained in statements to the state-owned Bolivia TV channel that this GDP expansion rate is above the average growth forecast for Latin America in 1,6 percentage points.

“That is to say, Latin America is going to grow by 1,6%, while the Bolivian economy has already grown by 2,3%, that means that Bolivia is growing more than the average of the countries in the region, which places us as one of the fastest growing economies in Latin America,” he said.

According to the deputy minister, the economic growth rate achieved by Bolivia in the first quarter is remarkable with respect to the continental forecast, which decreased from 7 points out of 100 in 2021 to four percent in 2022 and to 1.6 percentage units this year.

The expert attributed these results to the effects of the Covid-19 pandemic and the war conflict between Ukraine and Russia.

“The international context is of high inflation and economies with low growth; then if we look around, neighboring countries and also globally, they are economies that are growing very little and with high inflation,” he considered.

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