Ending fuel subsidies cuts Bolivia’s losses, president says
La Paz, Bolivia (CNN) — Bolivian President Evo Morales on Thursday defended his decision to end fuel subsidies, a move that caused gasoline and diesel prices to spike and led to protests in major cities since it was announced over the weekend. The country’s subsidies led to an artificially low price for diesel and gasoline, which resulted in widespread smuggling of those products to neighboring countries, where smugglers sold it for a profit, Morales told CNN en Español. “There’s a tremendous amount of smuggling (to Peru and Brazil) and the state loses.” For example, Bolivia will spend $660 million this year…
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Ending fuel subsidies cuts Bolivia’s losses, president says
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