Bolivia's Micro-Businesses Face Crisis Amidst Soaring Prices

Bolivia's Micro-Entrepreneurs Struggle Amidst Rising Prices La Paz, Bolivia – The rising cost of production materials is crippling small and medium-sized enterprises (SMEs) in Bolivia, according to a recent report by FEDEMYPE. The organization's general secretary, Felix Huaycho, appeared on Red Uno's "Que No Me Pierda" program to showcase the drastic price increases. "Threads, for example, cost Bs 20 before, now they're Bs 45," Huaycho explained, highlighting the more than double increase in price. This increase is directly attributed to the rise of the parallel dollar exchange rate. The report visually demonstrated the price differences of various materials, showing a stark contrast between past and present costs. The report also showed the impact on finished products. A pair of jeans, previously sold for Bs 150, now costs Bs 120 due to the increased cost of materials. This price reduction is a result of the business owners working longer hours and absorbing some of the increased costs to remain competitive. The segment underscored the urgent need for support for micro-entrepreneurs in Bolivia, urging a response to the current economic crisis. The segment concluded with a call to action, emphasizing the resilience and dedication of these entrepreneurs in the face of adversity. Their continued contribution to the country's economy was highlighted, emphasizing the importance of addressing the challenges they face.