Bolivian President Rodrigo Paz announced on May 25 that he will cut his salary by 50 percent as the country continues to face growing economic pressure, fuel shortages and rising public frustration.
Paz said the measure is intended to show solidarity with Bolivians struggling through inflation, a weakening currency and declining foreign currency reserves. The salary reduction will also apply to Vice President David Choquehuanca and several senior government officials.
Bolivia has experienced months of economic instability driven by falling natural gas exports, shortages of US dollars and increasing fuel import costs. Long lines at petrol stations and protests over living costs have intensified pressure on the government in recent weeks.
The president called on lawmakers to approve stalled economic reforms aimed at stabilising the economy and attracting foreign currency into the country. Opposition figures, however, argued that the salary cuts are largely symbolic and will do little to address deeper structural issues affecting Bolivia’s economy.
The government has denied claims that the country is facing an imminent financial collapse, insisting measures are being taken to restore stability.
