INSUBCONTINENT EXCLUSIVE:
The Banco Central del Paraguay (BCP) has updated its economic outlook for 2024
The livestock industry has seen a notable increase in its forecast, jumping from 1.6% to 5.4% due to higher slaughter rates.The BCP expects
product taxes to perform better than initially thought
They adjusted the forecast for this category upward from 6.8% to 9.5%
(Photo Internet reproduction)However, not all sectors are showing improvement
Reduced electricity production by binational entities caused this decrease
Within this sector, a decrease in corn production is expected to be offset by an increase in wheat production.Other sectors such as
manufacturing, construction, general government, and other services are performing as expected
Their growth estimates have not been altered in this latest report.As a result of these adjustments, the BCP revised the GDP forecast
excluding agriculture and binational entities upward from 4.5% to 4.9%
Central Bank Raises 2024 GDP Growth Forecast to 4.0%
