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Bolivia: President Arce advocates gradual elimination of fuel subsidies
Thursday, August 22, 2024 - 09:45
Presidente Arce

The Bolivian population will be consulted on this decision in a popular referendum, which will take place in the first half of December, and whose result will be accepted by the Government, as reiterated by the country's president.

Bolivian President Luis Arce has proposed gradually eliminating fuel subsidies in order to alleviate the situation of public coffers, as it is a "very costly" measure.

The Bolivian population will be consulted on this decision in a popular referendum, which will take place in the first half of December, and whose result will be accepted by the Government, as reiterated by the country's president.

According to Arce, the subsidy measure was taken by previous governments and has gradually affected the coffers of the General State Treasury, which represents a problem for the country's economy.

"That is why we launched the challenge on August 6th to the Bolivian people to decide the course that our subsidy will take. Little by little we have realized that as we are, we will not be able to continue forward and it will be very costly, perhaps more so than facing the gradual lifting of the subsidy," said the president.

In recent months, protests and strikes have been held in various economic sectors of the country in an attempt to obtain a response to the lack of fuel and dollars in Bolivia.

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