President Santiago Peña assured that Paraguay “is moving at a faster pace than the region” in terms of its economic growth, in a speech at the final Council of Ministers for 2024.
“The challenge is to take advantage of these conditions to improve the living conditions of Paraguayans, where improvements have already been observed in family income levels, in controlled inflation and in the reduction of poverty.”
During his speech, he also thanked the management of his cabinet and the entities that collaborate with the Executive Branch to carry out public policies for the benefit of the population.
“When there is integrated action, this generates tangible results for citizens”, he said.
He stressed that “Paraguay is experiencing a good period of economic growth, influenced by the regional and international situation. However, the growth of our country is faster than that of neighboring countries and this can be seen in a second year with a growth of 4%.”
For Peña, the challenge is to maintain this growth rate for a third consecutive year and repeat the milestone of the three-year period 2006-2007-2008, influenced on that occasion by a boom in commodities. “Growing on top of growth is the biggest challenge for countries,” he said.
Macroeconomic stability
“When we look at the stability that has been maintained, we have very solid macroeconomic foundations. The basis of all development,” said the president.
In this regard, he highlighted the management of President Javier Milei, who has managed to reverse Argentina’s fiscal deficit of the last 125 years at a faster pace than seen before.
Public policies for the benefit of citizens
These conditions are not sufficient if there is no management work to “transform the lives of Paraguayans,” said the president. This management begins with the most needy sectors: families in vulnerable situations, older adults, small producers.
“This is the power of public policy: being able to transform realities,” he said, while highlighting the management model implemented through coordinated actions between all institutions to achieve tangible results for citizens.
The president said that a decrease in poverty indicators is expected for the last quarter.
Paraguay’s insertion at the international level
Finally, the President of the Republic detailed the management model he is promoting to “insert Paraguay into the concert of nations. I claim that Paraguay has a predominant place” at the international level, he declared.
This means continuing with a travel agenda to promote the country and its accession to new multilateral organisations, such as the intention to have Paraguay included in the Organisation for Economic Cooperation and Development (OECD), despite the questions that this agenda may generate at the local level.
“Our agenda to position Paraguay will not diminish. Abandoning the image of an isolated country is not exempt from questions and risks, but I am convinced that Paraguay has a lot to gain in the concert of nations, by accessing more markets and making our country known,” he concluded.
