*Paraguay’s central bank (BCP) has revised up its GDP growth forecast for this year to 4.0%, up from a previous (June) forecast of 3.8%. In its monetary policy report for September 2024, the BCP attributed the upward revision to “a better-than-expected result” in trade, improved expectations for the livestock sector, and the growth of tax revenues. “Economic activity and domestic demand have continued to show favourable dynamics,” said the BCP, noting that in the second quarter of the year, GDP grew by 4.8 % year-on-year (1.4 % quarter-on-quarter), due to positive results in the services, manufacturing, construction, and livestock sectors.
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LatinNews Daily - 16 October 2024
In brief: Paraguay’s central bank raises growth forecast
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