Advancing infra projects soften COVID-19 GDP blow in Paraguay
The COVID-19 pandemic led to a 2020 GDP contraction of 1% in Paraguay, although infrastructure works softened the blow.
The construction sector grew 9.8%, compared to 2.5% in 2019, according to preliminary central bank data.
“This confirms what was said before. The national government’s decision to not stop the execution of public works was key to give oxygen to the economy against the pandemic’s irruption last year,” the public works ministry (MOPC) said in a release.
Still, the public works ministry had to temporarily halt new projects supported by the finance ministry, although works underway and those financed by multilaterals remained on track.
By contrast, the services sector, including commerce, transport and the hotel segment, contracted 3.5%.
The agriculture sector grew 9%, farming 5%, and telecommunications 6.6%.
For this year, the central bank expects GDP growth of 4%, driven by a rebound in services.
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News in: Infrastructure (Paraguay)
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