Despite many experts believing otherwise, Paraguay's Central Bank (BCP) has raised its GDP growth projection for 2025 from 3.8% to 4% amid geopolitical tensions and potential trade wars. BCP President Carlos Carvallo defended the adjustment, citing strong economic performance and advanced data showing better-than-expected dynamics in several sectors, except agriculture, which was impacted by drought-affected soybean production.
Add your comment!Paraguay's Central Bank (BCP) released a report Monday showing that exports fell 7.7% in 2024. However, some items scored significant improvements, as sales abroad totaled US$15.84 billion, while imports amounted to nearly US$16.38 billion. This represents a 3.6% increase for a trade deficit of US$538.8 million, against a surplus recorded the year before after a 2.3% overall contraction.
Paraguay's Consumer Price Index (CPI) grew 0.7% this month, which represented a setback from 0.3% in the same month last year. Nevertheless, Asunción confirmed closing 2024 with a 3.8% inflation, barely over 2023's 3.7%, according to the Central Bank (BCP), and therefore within the target range of 4%, it was explained Monday. On a brighter note, core inflation stood at 0.3% in December for a yearly variation of 3.4%, which meant progress from the 3.6% registered in 2023.
Central Bank of Paraguay (BCP) foreign trade (Comex) report released Wednesday in Asunción showed a US$ 57.1 million surplus last month after exports amounted to US$ 13.6649 billion against imports worth US$ 13.6077 billion. In other words, sales fell 4.5% yoy while purchases grew 5.1%.
After an intervention by the Central Bank of Paraguay (BCP) deemed as timely in Asunción's financial circles last week, the local currency appreciated against the US dollar and fell further away from the psychological ₲ 8,000 barrier. The BCP pledged to further inject at least US$ 15 million daily into the market, to stabilize the local currency. The dollar went up 9% against the guarani in 2024, largely driven by demand for the dollar in the international market and by local exchange needs.
Paraguay's Central Bank (BCP) announced Friday that it would adopt additional measures to keep the US dollar from soaring further against the local guaraní after crossing the US$1 / ₲ 8,000 barrier on Thursday. Starting next week, the BCP will pour US$15 million daily into the exchange market to keep the quotation at bay.
The Monetary Policy Committee (MPC) of Paraguay's Central Bank (BCP) unanimously decided Thursday to keep the benchmark interest rate at 6% for the fourth month in a row and found that cuts might be in order during the second semester of 2024 given the favorable economic indexes recorded recently.
Paraguay's Central Bank (BCP) issued a report last week announcing that the country had recorded the highest regional growth in the last quarter of 2023, with a positive rate of 4.9%.
Paraguay's Central Bank (BCP) announced this week that inflation in February amounted to 0% from January's values despite increases in education and food, particularly eggs, it was reported in Asunción. In the same month last year, the Consumer Price Index (CPI) had gone up 0.5%. However, these achievements have a price tag.
Paraguay's Central Bank (BCP) Monday lowered once again the monetary policy interest rate from 6.50% to 6.25% per annum. It was the seventh straight move in the same direction since August last year, it was reported in Asunción.