Bolivia, in spite of the adverse international context, shows an important and sustained economic growth because, he affirmed, "special emphasis was placed on the productive area". | Photo: Presidency of Bolivia

La Paz, November 8 (RHC)-- The president of Bolivia, Luis Arce, gave an account of his administration during a special session of the bicameral parliament on Tuesday, in which he praised the achievements of his administration over the past year.

The president recalled that it is two years since the electoral victory that gave him the government and therefore proceeds to raise the report of this last year of management.  Arce made reference to the fact that, even in times of the COVID-19 pandemic and the coup d'état of November 2019, his government has "worked for the construction of the State and democracy."

According to the President: "The first challenge was to recover democracy and we have done it through the best instrument in democracy, the vote of the people."  He celebrated that he came to the Government with "a resounding 55 percent", for which he thanked "the confidence and we assume the mandate of the people to resume the course towards certainty".

President Arce also celebrated that in the face of "the second great challenge [which] was to contain and stop the pandemic, we have had to deal with four waves, but we have faced them, without confinement or economic quarantines, and with the lowest mortality rate in the region and, above all, with arduous and transparent work".

The Bolivian president pondered what he called "the challenge [which] has been the reconstruction of our economy and the consolidation of our Social Community Productive Economic Model to return to the path of stability, development and economic growth with social justice; we are making firm progress in this task."

Luis Arce said that the administration he leads has been successful "in the face of the challenges and obstacles imposed, mainly those derived from the external crisis and the internal destabilizing attempts."

The Bolivian president explained the international context in which "the world and mainly the developed economies have been experiencing inflationary pressures that have not been seen in more than 30 or 40 years and that have direct effects on economic performance".

However, he valued that Bolivia, in spite of the adverse international context, shows an important and sustained economic growth because, he affirmed, "it placed special emphasis on the productive area and to retake the role of dynamizer of the internal demand".

He also said that until last September, in a context of inflationary pressures of external origin, "Bolivia is positioned as the economy with the lowest inflation in the region and one of the lowest worldwide, reaching 1.76 percent".

In another part of his report, Arce pointed out that during his administration "public investment has been reactivated, boosting the productive sector with trust credits", among other policies to boost the economy.

According to the Bolivian president, his government's model, unlike the neoliberal one, is strongly committed to social justice, for which reason "the economic growth that enables the generation of surpluses is not only available for reinvestment in job creation, but also for income redistribution."