Tag: gdp

Bolivia: an efficaciously prudent economy

Bolivia drives in its own lane, with a GDP growth this year above 4.5%. At a time when the world economy is contracting, with unfavourable winds, the Andean country is sustaining its growth. Why? The reason is very simple. Evo Morales never trusted the cycles of the world economy.

From the beginning of his mandate in 2006, Bolivia built its own economic order. By no means an autarchic one, nor disconnected from the world. On the contrary: an economic model connected to the outside, but in a sovereign and intelligent way. The first step was the nationalization of hydrocarbons, which was fundamental in order to erect their own house. Socially just and economically efficacious. Thus they have broken the myth that any nationalization reduces the capacity for growth. Bolivia quadrupled its nominal GDP in this period. And it continues along its long growth cycle in spite of the international context.