Bolivia Pegged As Leader In Economic Growth in Latin America for 2017

Bolivian President Evo Morales Tuesday highlighted the country’s economic growth in 2017, which saw a 3.8 percent rise, under his socialist party’s leadership, Movement for Socialism (MAS).

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Among the reasons given by the president for this growth, was the growth of domestic demand, the driving force behind the economic model, as well as the rise in international oil prices.

During a press conference held at the Government Palace, Morales talked at length of the "strength" of his government, the country and the economy.

"We have had a successful year, we are not lacking respect for the truth," said Morales.

The head of state said that the growth is also due to accelerated public investment in the last quarter of 2017, in addition to the joint work between the leadership of cities and provinces in the country.

"The Bolivian economy consolidated itself as the first in the region in terms of annual growth since 2014, and we hope to continue as leaders in the current year," said Morales.

As such, the president dismissed rumors of a crisis, questioning the position of the opposition, which Morales said had spread the misinformation.

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Several international organizations such as the Economic Commission for Latin America and the Caribbean (ECLAC), the International Monetary Fund (IMF) and the World Bank, have all ratified Bolivia as a leader in economic growth in the region.

According to ECLAC forecasts, Bolivia’s GDP will rise by four percent, a figure similar to that of Paraguay.

In its projections, the Bolivian government plans to achieve a GDP of 4.5 percent in 2018.