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Paraguay’s economy enters in recession after the GDP registered a 3% drop in the first quarter of 2019

The Minister of Finance, Benigno López, confirmed this week that Paraguay is experiencing a period of economic recession after the GDP registered a 3% drop in the second quarter of 2019, with respect to the same period of 2018. The Central Bank of Paraguay (BCP) published its latest quarterly report on the Paraguayan economy, which also reflects a negative variation of 2.5% of GDP in the first six months of the year. According to the report, this interannual situation is partly explained by the negative performance of sectors such as agriculture, manufacturing, construction and electric power generation. In addition, López described 2019 as a particularly hard year as a result of a reduction of more than USD 200 million in the country's income section.


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