Advanced Search

LatinNews Daily - 29 July 2019

In brief: Paraguay’s central bank lowers growth forecasts

* Paraguay’s central bank (BCP) has released revised GDP growth projections for 2019 following Q2 results. The BCP now projects total 2019 GDP growth of only 1.5%, down 1.7 percentage points from April 2019 projections. The BCP predicts that Paraguay’s primary sector (agriculture, livestock, forestry, fishing, and mining) will struggle for most this year with a decline of 3.7% from 2018. The secondary sector (manufacturing, electricity, construction, and water) is also projected to decline, by 0.5% from last year.  Paraguay’s tertiary sector however is predicted to grow 3.9%. The BCP predicts that climate change, which has adversely affected soya production this year, and tense international trade relations are the most important factors in the overall decline in growth.