1. Bolivia actually isnt the fastest growing county in Americas. Countries like Peru and Chile grew faster than Bolivia in 2012, Paraguay had the fastest growth in 2013 and Panama in 2014. Bolivias growth is actually declining from the peak in 2013 and the forecast for 2015 puts it behind Peru and Panama. 2. Poorer countries typically have much faster growing economies than richer countries. Bolivia happens to be one of the poorest countries in the world. 3. The top individual income tax rate is 13 percent. In comparison the top individual income tax rate in Finland is 52%. The overall tax burden is 22.2 percent of GDP (46,2% in Finland). 4. According to the IMF, Bolivias overall fiscal surplus is projected to narrow to 0.6 percent of GDP in 2013 and turn to an overall deficit of 0.4 percent of GDP in 2014. 5. Actually government social spending as a share of GDP fell from 12.4% of GDP in 2005 to 11.5% in 2012. 6. US Uncut is right about spending on education, and increasing government spending on education in developing countries is not usually a bad thing, so I wont rant about that. 7. The minimum wage went from 140 euros to 170 euros in a month. Still pretty low 8. None of the matters in the picture actually had a significant effect on Bolivias growth. Rise on oil and natural gas prices along with increased production are the main reasons behind growth at the moment. Production of oil and gas is a significant driver of the Bolivian economy, accounting for over 10.0% of GDP.
Posted on: Sun, 19 Oct 2014 23:36:31 +0000
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