LA PAZ – President Evo Morales confirmed on Wednesday that Bolivia’s salaried workers will receive double the usual Christmas bonus this year thanks to strong economic growth.
The bonus is doubled in any year when the economy grows by more than 4.5 percent in June compared with the same month of the previous year.
Bolivia’s economy expanded by 4.61 percent during the 12 months that ended June 30.
Morales also said that the figures are backed by international organisms, including the International Monetary Fund and the World Bank, who he said forecasts that the country’s economy will grow by approximately 4.5 percent in 2018.
The president added that Bolivia is expected to become the fastest growing South American economy.
“Bolivia’s economic growth is astonishing the world,” he said, adding that the economy is jump starting after oil prices dropped in 2017, affecting natural gas, the Andean nation’s chief export.
Morales also called the confirmation regarding the increase in Christmas bonuses “good news,” and said that he trusts that his country will continue growing due to his administration’s push for the industrialization of natural resources, such as the country’s vast lithium deposits.