LA PAZ: Evo Morales was sworn in Thursday for a third term as president of Bolivia at a ceremony in the country's national assembly as thousands of supporters cheered outside.
Morales, Bolivia's first indigenous president, took the oath of office with his left fist raised "on behalf of the Bolivian people and equality for all human beings."
The 55-year-old former coca grower, in office since 2006, was re-elected in October with 61 percent of the vote. His new term ends in 2020.
During his first nine years in office, Morales nationalized the country's oil and other natural resources, and imposed state control over major strategic industries like telecommunications and electric power.
Bolstered by high prices for its natural gas exports to neighbors Brazil and Argentina, Morales spread the rising income among the country's poor.
"Now he'll have to govern in context of falling oil prices and consequently lower natural gas prices, which is to say without the economic boom that characterized the nine previous years," said Carlos Torzano, an independent analyst.
Morales has already warned his team to brace for a crisis.
"We are going to continue growing, because international prices help but are not the sole sufficient and necessary condition for growth," said Economy Minister Luis Arce.
Bolivia projects 5.9 percent growth this year, a gain similar to 2014. The country's economy grew 6.8 percent in 2013.
With control of the national assembly, Morales should have a free hand to undertake reforms, possibly including a constitutional amendment to allow him to run for a fourth term.
At a news conference Monday, however, Morales said he had never thought about changing the constitution to open the way for another term in office.
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