1945

Paraguay's GDP grew by 4% in 2004, which was the highest rate since 1995. This result was not exclusively attributable to expansion in the agricultural sector (as in 2003), but was also driven by an upturn in non-agricultural activities, especially meat production and commerce. The rate of inflation dropped considerably, to 2.8%, but is expected to come in around 8% in 2005, which coincides with the maximum rate stipulated in Paraguay's agreement with IMF. Unemployment stood at 7.3%, compared to 8.1 % in 2003. A more moderate expansion of GDP, of around 2.8%, is forecast for 2005, as agricultural output drops and the economy faces less propitious international conditions.

Related Subject(s): Economic and Social Development
Countries: Paraguay
/content/books/9789211555684s004-c008
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