GDP in Paraguay
Paraguay - GDPThe economy has had a poor start to the year. Following tepid growth in January, activity contracted over 5% year on year in February–April, amid lower soybean production as a result of drought. Moreover, a much higher unemployment rate in Q1, double-digit inflation and tepid consumer sentiment have likely weighed on household spending. These factors more than offset the boost from the removal of virtually all remaining Covid-19 restrictions in February, and strong credit growth through April. In mid-May, S&P Global Ratings confirmed its ‘BB’ rating despite the adverse economic impact of the drought, citing fiscal prudence and robust medium-term growth prospects. In other news, the government recently announced a minimum wage increase of 11.4%. While this should provide support to spending in the near term, the move could also be inflationary.
Paraguay - GDP Data
|Economic Growth (GDP, annual variation in %)||3.1||4.3||5.0||3.4||0.0|
5 years of economic forecasts for more than 30 economic indicators.
Paraguay GDP Chart
Source: Central Bank of Paraguay.
|Exchange Rate||6,453||0.18 %||Jan 01|
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