Analysis by Region - Emerging Markets - Bolivia
We've cut our 2023 GDP forecast by 0.5ppts to 2.1% for Bolivia. Last year's sources of growth are fading as it was backed by new public investment projects and a surge in hydrocarbon's exports to Argentina. Additionally, private consumption has failed to recover to its pre-pandemic levels due to Bolivia's fragile labour market, as informal jobs rose to an all-time peak of 90% in 2022. Therefore, we don't anticipate private expenditure will completely recover until 2024.
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