Canning Insights

The first year of the third term for the left-wing government led by President Evo Morales began, in 2014, in very different economic circumstances than had prevailed during its first two terms (2006-2013). Bolivia’s robust growth trajectory since 2006 largely had been driven by windfall income from strong demand and lofty export prices for its mainstay commodity exports – natural gas, zinc, tin, silver, and to a lesser extent oil seeds. Steadily rising fiscal earnings supported a continuous expansion of public spending, increased social welfare payments and rising real incomes from successive above-inflation annual wage increases, all of which further bolstered growth.

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