LatinNews Daily - 20 December 2019

* Paraguay’s deputy economy minister Humberto Colmán has confirmed earlier concerns that the government’s fiscal deficit will exceed 2.5% of GDP this year. Speaking during the finance ministry’s ‘rendición de cuentas’ accountability public audience, Colmán noted that due to historically high levels of public investment, which totalled 2.6% of GDP in 2019, Paraguay’s fiscal deficit is likely to approach 2.8% of GDP this year. This remains within the cap of the fiscal responsibility law (LRF), which congress exceptionally raised from 1.5% to 3% of GDP for this year to allow the government to increase spending in support of the domestic economy. In his presentation, Finance Minister Benigno López stressed that the government has laid the groundwork for better conditions in 2020 after facing adverse economic factors in 2019. 

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