ASUNCION (Reuters) – Paraguay’s finance minister told Reuters economic growth in 2019 was likely to come in below 3% from an earlier projected 3.2% percent thanks mainly to weak soybean production caused by poor weather in the first half of the year.
Benigno López said Paraguay, the world’s fourth biggest exporter of soybeans, had weathered the worst of the “storm”.
Hit - Half - Economy - Lopez - Half-brother
“The hit in the first half is behind us and the economy is going to recover,” Lopez, the half-brother of conservative President Mario Abdo and one of his main advisers, said in an interview at his offices in central Asuncion.
“We will end up with moderate growth, but growth at last.”
Country - Bank - Growth - % - Number
The country’s central bank, which previously estimated growth of 3.2%, is expected to revise the formal number this month, according to the bank’s calendar.
The soybean crop in 2018/2019 was 20% lower than the year before due to the adverse weather, official data show. Lopez said the government was providing...
Wake Up To Breaking News!