Paraguay grew by 3.6% between 2000 and 2021

Paraguay is the country among 11 compared that accumulated an intermediate economic growth in Latin America from 2000 to 2021, with an accumulated variation of 3.6%, in position 6, when looking from the lowest to the highest or vice versa, according to a graph made by Julio Alfonso Santaella Castell, former president of the National Institute of Statistics and Geography (Inegi) of Mexico.

The portal Diario de México echoed the publication of the former official, highlighting that Mexico is the country among 11 that accumulated the worst economic growth in Latin America in the mentioned period.

The list is as follows, from lowest to highest: Mexico 1.9%, Argentina 2% and Brazil 2.3%, followed by Uruguay 3%, Ecuador 3.4% and Paraguay 3.6%. Chile 3.7%, Colombia 3.8%, Costa Rica 4%, Bolivia 4.2% and Peru 4.9%.

Via Twitter, the economist by the Instituto Tecnológico Autónomo de México (ITAM) showed that his figures were measured by the Gross Domestic Product (GDP) at constant prices and that to facilitate the analysis, this was carried out in a series are 100 in 2000.

“Specifically, while Mexico grew 38% from 2000 to 2021, Peru grew 148% and Costa Rica 119%. Mexico is behind Argentina, which only grew 44% in this period of a little more than two decades”, the expert emphasized.

These cumulative growths imply the following average annual #GDP growth rates:

• Mexico 1.9%
• Argentina 2%.
• Brazil 2.3%.
• Uruguay 3%
• Ecuador 3.4%.
• Paraguay 3.6%
• Chile 3.7%
• Colombia 3.8%
• Costa Rica 4%
• Bolivia 4.2%
• Peru 4.9%
  – Julio A. Santaella (@SantaellaJulio) August 16, 2022

On the other hand, looking at the local scenario, economic growth in the last four years slowed down notoriously, averaging a rate of 1.5% per year, well below the average expansion rate observed in the previous decade of around 4%.

This slowdown incorporates two scenarios of economic contraction in 2019 and 2020 due to climatic factors and the pandemic outbreak.

It was stated by economist Patricia Goto, from the consulting firm CPA Ferrere, after an economic analysis of the four years of the current Government.

She told La Nación that although these are exogenous factors, there is no doubt that the lower economic activity represents a warning signal for the economic policy, especially considering the prospects for 2022, which point to a recessive year again.

With information from La Nación