Social turmoil in Bolivia results in heavy economic losses

At least 100 million US dollars were lost as a result of social turmoil in Bolivia which had lasted nearly a month, the Bolivian National Chamber of Commerce (CNC) said on Tuesday.

CNC President Guillermo Morales said 75 percent of the losses were caused in the western cities of El Alto and La Paz, the main centers of demonstrations, which had been paralyzed by roadblocks, affecting highways linking the Andean country with neighboring countries, reports from Bolivia said.

There were also cuts in airport services and a shortage of basic products including fuel, which reached critical levels in the last days of the protests.

The turmoil could also lead to a reduction in foreign investment and a decrease in tourism, said Morales.

As a result, Morales said, the increase in the gross domestic product this year would drop to 3.6 percent from the projected 4.5 percent.

The recent crisis in Bolivia culminated with the resignation of President Carlos Mesa and the refusal of his constitutional successors, head of the Senate Hormando Vaca and the head of the Lower House Mario Cossio, to succeed him. President of the Supreme Court Eduardo Rodriguez was named the new head of state.

The transitional government of Rodriguez has to call a general election within six months.

Source: Xinhua