Asunción, IP Agency.- “For our Government, the most important thing is and will be the well-being of the people, improving living conditions, access to quality services and increasing employment,” said the Minister of Economy and Finance of Paraguay, Carlos Fernández Valdovinos, during his participation in a Conversation at the Georgetown Americas Institute, in Washington, United States.
The activity was carried out within the framework of the Annual Meetings of the World Bank Group (WBG) and the International Monetary Fund (IMF), as reported by the Ministry of Economy and Finance (MEF).
On the occasion, Fernández Valdovinos spoke about the current state of the Paraguayan economy, the challenges and opportunities that lie ahead, highlighting that the Government seeks to implement public policies focused on improving people’s living conditions.
“For our Government, the most important thing is and will be the well-being of the people, improving living conditions, access to quality services and increasing employment. But another important issue is also achieving the desired investment grade, obtaining the investment grade rating, because this will give us the opportunity to attract more investments that will benefit society,” said the head of the economic portfolio.
The minister stressed the importance of the macroeconomic stability that Paraguay has enjoyed for years, a key factor for social development and economic growth. “It is a public good that has allowed us to have an inflation of only 3.2%, the lowest in the region, and this year the Paraguayan economy will have strong growth,” he stated.
Likewise, he highlighted that the low inflation rate and the manageable public debt of 36% of GDP, together with the favorable general macroeconomic condition, position Paraguay as a stable and attractive country for investments.
He also mentioned that Paraguay is surrounded by two giant countries, Brazil and Argentina, which from time to time experience macroeconomic instability. The situation in the region has been difficult for a long time, but this is also an advantage for Paraguay, because we know how to deal with the headwinds that we normally face in the neighborhood.
In his presentation, Minister Fernández Valdovinos expressed that the Government must prioritize the public policies that are going to be implemented. He said that President Santiago Peña, as the former Minister of Finance that he was, knows very well that the important thing is to recover what has been lost recently. This is the fiscal and monetary space we used during the pandemic.
He also pointed out that in the medium term we should think about promoting structural changes, which are the objective of the current administration, in addition to recovering the macroeconomic space.
The conversation, moderated by Alejandro Werner, founding director of the Georgetown Americas Institute, concluded with an optimistic vision of the future of Paraguay. Macroeconomic stability, sustained growth and public policies focused on the well-being of the people position the country to face the challenges and take advantage of the opportunities that lie ahead.
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2024-04-24 12:34:34