LA PAZ, Nov 23 (Reuters) - Bolivia’s economy will grow by an estimated 5 percent next year, powered by $8.2 billion in public investment, according to the government’s budget proposal submitted to Congress on Monday.
Bolivia expects gross domestic product (GDP) to expand by 5 percent this year as well. Inflation is expected to be 5.3 percent in 2016, according to the budget bill, down from an estimated 5.5 percent this year.
“We are betting on public investment to be the motor of growth,” the government’s deputy budget chief Jaime Duran told a news conference.
Since the election of President Evo Morales in 2006, the South American country’s economy has expanded more than 5 percent a year on average, one of the highest rates in the region. (Reporting by Daniel Ramos; Writing by Hugh Bronstein; Editing by Nick Zieminski)