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Economic Survey of Latin America and the Caribbean 2010-2011

International Integration and Macroeconomic Policy Challenges Amid Global Economic Turmoil

image of Economic Survey of Latin America and the Caribbean 2010-2011

This publication is issued annually by the Economic Development Division of the Economic Commission for Latin America and the Caribbean (ECLAC). This sixty-third edition of the Economic Survey looks at the nature of the recovery from the financial global and economic crisis whose fallout spread across the region in the second half of 2008 and in 2009. It also delves into the challenges posed by highly liquid conditions in international financial markets combined with high prices for the region’s key commodities. Finally, it analyzes the situation in the countries of Latin America and the Caribbean during 2010 into the first part of 2011.

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Paraguay

At 15.0%, economic growth in 2010 was the best seen in Paraguay in four decades. It was driven by a good performance in the agricultural sector, thanks to a bumper crop from the 2009-2010 harvest. Other sectors such as livestock, construction and manufacturing also made substantial contributions. Although public spending continued to grow in 2010, the central government achieved a fiscal surplus of 1.4% of GDP owing to higher tax receipts.

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