[{"bbox": [96, 153, 1134, 207], "category": "Text", "text": "importance of increasing investments in the environmental areas but also the need to combine support to national institutions with work at local and community level for policy implementation."}, {"bbox": [96, 218, 1134, 484], "category": "Text", "text": "In terms of policy costing and financing, an analysis of PSDI cost estimation and actual budget implementation gives important insights into the persisting needs of the sector. For the period 2016-2020, while investments estimations totalled USD 4.8 billion, the MEW implemented a budget of approximately USD 660 million, representing only 14% of the initial estimations. For the PSDI 2021-2025 initial cost estimations amount to USD 8.5 billion. According to the plan, the largest share of investments would be absorbed by the water resources and irrigation sector (60%), followed by drinking water and sanitation infrastructure (38%) and a minor 2% allocated to environmental management. Considering more specifically the sub-sectors and national programmes to be supported by the proposed EU Action, the estimated budget for 2021-2025 is USD 506 M for integrated water resources management, USD 52 M for forest management and USD 40 M for biodiversity and protected areas management."}, {"bbox": [96, 495, 1134, 709], "category": "Text", "text": "Institutional capacities at the central MEW level have decreased with the staff changes following October 2020 elections. Numerous people with significant experience, especially in the field of water resource management, were replaced by technicians with a stronger affiliation to the national party but sometimes with insufficient experience in public administration. However, the presence of international cooperation actors and technical assistance programmes has allowed to retain knowledge of previous experiences and promote continuity and improvements of national policies. Following staff changes also within regional and municipal governments, the international community supported a number of trainings and technical assistance activities for adequate policy implementation at local level."}, {"bbox": [96, 719, 1134, 1010], "category": "Text", "text": "Progress of policy implementation at national level is monitored through the planning and information systems - SP and INFOSPIE respectively- of the Ministry of Development Planning, while expenditure data is available online to the general public through the Public Management System (SIGEP for its Spanish acronym). These systems allow for the systematization, analysis and evaluation of objectives, results, actions and expenditure foreseen in the different ministries' sector policies. At the MEW level, the Environment and Water Resources Information System (SIARH, Spanish acronym) compiles a huge variety of data and is strategically placed directly under the Minister with a specialised unit. Data comes from different sources that feed the SIARH, but mostly from sector implementing agencies and sub-national governments, while data verification is done by the MEW. The 2019 mid-term evaluation of the latest EU Sector Reform Performance Contract indicated that, while a large amount of information is produced at sub-national level and not yet integrated in the system, data quality is good and data sources are credible."}, {"bbox": [96, 1023, 1134, 1132], "category": "Text", "text": "Following a Team Europe support for the capacity building of MEW selected personnel on mainstreaming gender in public policy and financing in 2021, the new MEW PSDI is expected to include a target on gender mainstreaming. This will allow both planning and reporting of gender-specific and gender-sensitive actions within MEW programmes and investments, making the first steps towards gender-sensitive budgeting."}, {"bbox": [96, 1143, 1134, 1198], "category": "Text", "text": "In conclusion, the policy is sufficiently relevant and credible for budget support contract objectives to be largely achieved. Therefore, the policy can be supported by the Commission with the proposed budget support contract."}, {"bbox": [85, 1222, 376, 1249], "category": "Section-header", "text": "### 2.3.3 Macroeconomic Policy"}, {"bbox": [96, 1263, 1134, 1582], "category": "Text", "text": "Despite the political, economic and sanitary crisis that have affected the country since 2019, the 2021 results demonstrated an important economic recovery. However, the pandemic is not yet over and neither have political and social tensions ceased. Furthermore, 2022 is posing an important challenge to consolidate economic growth without endangering all the social gains of the last two decades. The government is committed to maintain an expansionary fiscal policy in 2022, to promote public investment and encourage domestic demand. Higher energy prices stemming from Russia's war of aggression against Ukraine increased revenue from hydrocarbon sales but fuel and diesel subsidies could offset these profits. Public debt has become a concern; February's global bond issuance fell short of government expectations, as investor appetite for Bolivian debt was insufficient in light of the risks that comes with it. Only USD850 million out of USD 2 billion were placed at a higher coupon rate (@7.5%). Local currency is still overvalued but the peg is unlikely to be adjusted in the short term. The IMF consider that fiscal and currency adjustments could be necessary to prevent a balance-of-payments crisis, a debt crisis or both. On the other hand, the government is rather confident that in 2022, the reinsertion of the Economic,"}, {"bbox": [1027, 1655, 1144, 1679], "category": "Page-footer", "text": "Page 10 of 35"}]