Economy & Business - April 2023

PARAGUAY | Outlook for growth solid this year. Paraguay is set to see solid economic growth this year, after narrowly avoiding a recession with just 0.1% GDP growth in 2022, according to central bank figures (BCP) released on 24 March. In March, the BCP’s monthly survey of experts forecast 4.5% growth this year, and 4% in 2024. This matches the projections of the International Monetary Fund (IMF) in its latest World Economic Outlook report, released on 11 April: the IMF also expects Paraguay’s economy to grow 4.5% in 2023, well above the global average of 2.8% and the average for Latin America and the Caribbean of 1.6%.