Bolivia's President Paz initiates closure of deficit state companies

Bolivian President Rodrigo Paz confirmed that the process to close deficit-ridden state-owned companies has begun. This move follows the promulgation of the revised General State Budget (PGE) on Thursday.

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the state-owned companies have a closure process, because there are some state-owned companies that are created by law, and it is with Parliament, through law, that you have to close them

During an interview, Paz explained that the new budget shows the current government has reduced the fiscal deficit from Bs 67 billion to Bs 43 billion, a decrease of over 30%. He stated that some state companies, created by law, require parliamentary approval through legislation to be closed. However, the PGE has already determined a reduction in capital contributions and spending for public companies.

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reduction of capital contributions and spending of public companies

Paz also commended the National Parliament for its maturity, noting that despite political differences, they understood the necessity of solid, step-by-step progress in changing Bolivia's regime over the past 20 years. He indicated that only administrative steps are left to complete the closure of these unprofitable state enterprises.

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they have understood that the process of changing these last 20 years of regime that occurred in Bolivia, is step by step, but that it must be with solid steps