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LatinNews Daily - 28 June 2021

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In brief: Paraguay’s GDP recovers from 2020 contraction

* Paraguay’s central bank (BCP) has released its latest GPD figures, which show that the country’s economy grew 0.6% year-on-year in the first quarter of 2021. A BCP report attributed the GDP growth in the first quarter to gross fixed capital formation (GFCF), which increased 11.4%, while total consumption shrunk by 0.9% during the period. The construction (14.2%) and livestock (9.8%) sectors displayed the most year-on-year growth, while agriculture output shrank by a significant 10.9% alongside the electricity and water sectors (-6%). The positive Q1 2021 figure comes after Paraguay’s GPD contracted by 0.6% yearly in 2020. However, it remains lower than the 4.3% annual GDP growth posted in Q1 2020.