Economy grows, poverty decreases in Bolivia with Evo Morales

The process of change headed by Bolivia’s president, Evo Morales, today exhibits a privileged growth of the economy, while the poverty indicator declined significantly, according to experts. When one analyzes the long term in Bolivia, it has maintained a growth well above the regional average; it had a process of poverty reduction of very important magnitudes, said the president of the Development Bank of Latin America (CAF), Luis Carranza. During a public ceremony held Thursday in this capital city, Carranza said very few economies in the world significantly reduced their poverty rates in a period as short as the Plurinational State. Sixteen days before the general elections in which Morales aspires to re-election, the South American country maintains these positive indicators and leads macroeconomic stability in the region, despite the international crisis of raw material prices. ‘Bolivia was affected,’ said the expert, ‘but it is better supporting (the international crisis) because of the intrinsic strengths of the Bolivian economy.’ Neoliberal governments left the country with a poverty rate of 38.2 percent in 2005, and in 2018 this indicator dropped to less than half (15.2 percentage points). Another success of the economic, social, community and productive model established by the ruling Movement to Socialism, was the passage in the last six years of over three million people to middle class status. In this context, specialized agencies such as the Economic Commission for Latin America and the Caribbean (ECLAC) and even the neoliberal International Monetary Fund (IMF) estimate that the country will grow by around 3.5 percent in 2019, while the Ministry of Economy and Public Finance places that figure in four units over 100.   Powered by: Prensa Latina