“The Investment Law is Urgent”: Santa Cruz Bets on a New Economic Model in Its 2027 Plan

Santa Cruz is presenting its 2027 budget as a break with the department’s rentier economic model. The departmental government says it wants to reduce spending, reopen programs and secure funding for school breakfasts and the health system.

Vice Governor Paola Aguirre said the annual operating plan was submitted on time and built around austerity, prioritization and more efficient use of public resources. Governor Juan Pablo Velasco sent the technical and legal documents to Economy and Public Finance Minister Christian Andrés Morales Burgos, together with the approval measure adopted by the department’s highest decision-making body.

“In time and in the proper manner, we submitted the Annual Operating Plan of the Autonomous Departmental Government of Santa Cruz. With criteria of austerity, priority and optimization, our institution’s budget has been planned,” Aguirre wrote on social media. She also said the administration intended to return certain responsibilities to the central government as part of a reorganization of public duties and resources.

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In time and in the proper manner, we submitted the Annual Operating Plan of the Autonomous Departmental Government of Santa Cruz. With criteria of austerity, priority and optimization, our institution’s budget has been planned. We will reopen programs, guarantee resources for school breakfasts, strengthen the health system, reduce public spending and return responsibilities to the central government.

The administration is also seeking to use concession arrangements for projects that require substantial investment. “The concession model will make it possible to carry out high-impact projects. That is why approval of the Investment Law is urgent,” Aguirre said. She described the goal as a shift from a rentier model toward self-sustaining systems, adding, “We can do it, we will achieve it.”

The Santa Cruz Departmental Legislative Assembly approved the plan even though its six political groups did not reach a full agreement. The budget totals Bs 1.463 billion, highlighting the department’s continuing financial constraints. Assembly President María René Álvarez said the approval would ensure continuity of government and left open the possibility of changes in 2027 to address provincial needs, while acknowledging that the allocated resources fall short of Santa Cruz’s demands.

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The concession model will make it possible to carry out high-impact projects. That is why approval of the Investment Law is urgent. The idea is to make a shift away from the rentier model toward self-sustaining systems. We can do it, we will achieve it.