Paraguay’s economy will have the highest growth in the region in 2019

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According to the Central Bank of Paraguay, the country will have an expansion of 4% of the gross domestic product and inflation of 4% for 2019

The Central Bank of Paraguay (BCP) announced the prospects for the Paraguayan economy, projecting a 4% expansion of gross domestic product and 4% inflation for 2019. This level of expansion achieves to keep Paraguay among the fastest growing in the region, only behind Bolivia and Peru.

The president of BCP, José Cantero, explained that this expansion will be based mainly in the tertiary and secondary sectors, in line with the process of diversification of the Paraguayan economy. With regard to inflation, he said that the projections are in line with the goal set by the institution.

As for the capitalized lessons and to capitalize, Cantero reflected that, in Paraguay, “we built a roof whilst it was not raining; We extend consensus towards infrastructure; That the way forward is more investment, more diversification, more productivity, more internationalization.

The outer winds are exhausted, it’s all up to us, “he said.

With respect to the closure of 2018, the head of the parent bank stated that the estimated growth is 4%, a similar percentage projected for inflation.

The director of the Western Hemisphere Department of the International Monetary Fund (IMF), Alejandro Werner, provided an international panorama and the economies of the region.

He considered that, in the case of Paraguay, the rise in agricultural export prices contributed greatly to the vigor of growth, but also contributed to the sustained period of prudent macroeconomic policies.

For his part, the Minister of Finance, Benigno López, said that The aim is to maintain the fiscal order, with a deficit in the order of 1.5% of GDP, which is compatible with the sustainability of public finances in the long term, and is a prudent value, which has been fulfilled in recent years.

On the other hand, he emphasized that the intention is to focus on impact programs for educational transformation, job creation, infrastructure, energy, science and security.

Source: El Agro Paraguay

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