Weekly Report - 05 September 2024 (WR-24-35)

Paraguay’s government led by President Santiago Peña presented its first budget to congress on 30 August, and it was an ambitious one. It foresees an increase of 14% to G$132.9tn (US$17.56bn) and is to finance additional spending in health, education, security, and social welfare among other areas. With annual inflation hovering at just over 4%, the real increase would still amount to nearly 10%, an unusually sizeable increase for any budget.