In a year-end report, the Economic Commission for Latin America (ECLAC) has identified Paraguay as the South American country experiencing the highest economic growth in 2023, coupled with optimistic projections for 2024.
Photo credits: Ministry of Public Works and Infrastructure (MOPC).
Asunción, Agencia IP.- In a year-end report, the Economic Commission for Latin America (ECLAC) has identified Paraguay as the South American country experiencing the highest economic growth in 2023, coupled with optimistic projections for 2024.
According to the «Preliminary Balance of the Economies of Latin America and the Caribbean,» Paraguay is set to close the year with an impressive 4.5% increase in Gross Domestic Product (GDP). This places Paraguay ahead of other South American nations, with Venezuela and Brazil following closely behind, each expecting a growth rate of 3%.
Looking ahead to 2024, Paraguay is positioned among the countries with the most promising growth prospects in the region, anticipating a GDP growth of 3.8%. While Venezuela takes the lead with a projected growth of 4%, Paraguay’s forecast underscores its continued economic vitality.
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