Bolivian President Rodrigo Paz Pereira, along with Minister of Economy José Gabriel Espinoza, announced the comprehensive overhaul of the 2026 General State Budget (PGE), which includes a 30 % cut in public spending.

This is the largest adjustment implemented in the country in over a decade. The president stated that the measure “seeks to dismantle an excessively spending-oriented system inherited from the previous government and redirect resources toward investment, macroeconomic stability, and the efficiency of the state apparatus.”

As a first step in this reform, the government plans to request the return of the 2026 General State Budget (PGE-2026) from the Chamber of Deputies. This budget was prepared and submitted to the legislature in the final weeks of the previous administration, led by Luis Arce, in order to review it and replace it with a plan aligned with the new fiscal priorities.

The president stated that they will reformulate this budget, which was designed for spending rather than investment or to benefit Bolivians.

Minister Espinoza added that “the Executive Branch will incorporate an article into the new law that will allow for a review of the budget until February 2026 under a strict rule: reducing fiscal spending by at least 30 percent. This will require a detailed evaluation of each public institution, its operating budgets, and current programs.”

The government will focus on crucial issues for Bolivia’s economy and development, such as defining the exchange rate of the dollar and the new fuel subsidy policy. According to the Constitution of the South American nation, the Legislative Assembly must debate, modify, or approve the new budget within 60 days of receiving it; otherwise, the bill is automatically enacted.

M.Pino

Source: xinhua

(Reference image source: Towfiqu barbhuiya on Unsplash)

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The president of the National Council of Commerce and Services (Consecomercio), José Gregorio Rodríguez, forecasts a possible 10 % increase in sales in December.

Rodríguez referred to the last month of the year, when Christmas shopping boosts the market, while acknowledging that merchants face various challenges related to the exchange rate differential, but also linked to the inflation rate, with an average estimate of 250 % by the end of the year.

The executive urged authorities to conduct a review of the tax issue and specified that “more foreign currency must be allocated to priority areas, to areas considered important, because otherwise, this will translate into price increases and adjustments, and ultimately, the market will have a significant impact.”

According to Rodríguez, “63 % of the population lacks significant purchasing power and is limited to purchasing food, medicine, and toiletries. What we would like is to sell much more volume, not adjust prices, but we have some realities that we have to face.”

M.Pino

Source: bancaynegocios

(Reference image source: Artem Beliaikin on Unsplash)

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The Venezuelan government received from the president of the Venezuelan Confederation of Industrialists (Conindustria), Tito López, an eight-line action plan aimed at the country’s reintegration into global trade.

According to López, “the industrial sector considers it urgent to achieve macroeconomic stability and adapt monetary and fiscal policies.” In this regard, he indicated in statements to Unión Radio that among the proposals to the government is “the deduction from Income Tax of all taxes and contributions paid without exception, such as IGTF, IGP, sports, or LOCTI, to avoid the effect of paying taxes on taxes.”

The key points of Conindustria’s plan are:

1. Macroeconomic harmony: which refers to the adequacy of monetary and fiscal policies.
2. Tax reform: including the full deduction of taxes and contributions to avoid paying “taxes on taxes,” including IGTF, IGP, sports, and LOCTI.
3. Border security: to guarantee the stability of all sectors in the region.
4. Labor legislation: with a focus on modernizing the social benefits system and restructuring the concept of wages.
5. Science and technology: the focus is on promoting education and innovation.
6. Entrepreneurship and SMEs: with the implementation of incentive mechanisms for the development of small and medium-sized businesses.
7. Environmental sustainability: which refers to the implementation of policies that promote environmental management.
8. Economic recovery: with the necessary financing for the development of small and medium-sized industries.

M.Pino

Source: noticiasvenevision

(Reference image source: Ahsanization ッ on Unsplash)

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