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Economy & Business - March 2005

PARAGUAY: Off the bottom

Although the economy is still fragile, recovery was nevertheless evident in 2004. Tax revenues in 2004 rose enough to produce a fiscal surplus for the government (compared with deficit in the previous two years) and deposits in the banking system rose by 12.4% in 2004 to G$1.1 trillion (US$175m). Another part of the service side of the economy which is picking up is tourism. The business at hotels and restaurants was up by 12% in the first quarter of the year.

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