The Bolivian government will devote important sums of money to 18 state-run companies in strategic sectors, to increase State participation in the national economy.

Economy and Finance Minister Luis Arce, quoted by cambio daily, said that the State companies would receive an allocation of 49 billion bolivianos, around $1.5 billion in 2010.

Arce asserted that, according to predictions, the profits generated by the state-run companies from selling hydrocarbons, minerals and ores, and other goods and services will reach 30.1 billion bolivianos, around $4.2 billion, in 2010.

That figure is considered historic if compared to that registered in 2005, when the profits generated by the Bolivian state-run companies just reached 1.7 billion bolivianos, around $244.5 million, according to a report by the America Economy institution.

Bolivian Oilfields Company, Bolivian Mining Corporation and Vinto Metallurgic Company will be among those to be financed by the government.