Paraguay cuts economic growth forecast amid surge in COVID - 19 cases

1 minute

ASUNCION, April 27 - Colombia's central bank has cut its annual economic growth forecast for the country from 4% to 3.5% amid a surge in COVID-19 cases and a stalled vaccine rollout, underlining a wider potential risk for Latin America.

The current downward revision reflects the slow process of immunizing the health crisis and the continuing progress in the process of building up the population, the bank said in a report on Tuesday, citing new pandemic restrictions and uncertain economic outlook.

The bank pointed to the strength in agriculture and livestock, highlighting a harvest of just over 10 million metric tonnes of soybeans and excellent external demand for Paraguayan beef.

But the firm revised down the public sector, saying funds were being diverted to covering healthcare costs, while pandemic regulations were hitting the services sector to curb infections.

The Brazil has seen a jump in the COVID-19 case in the past weeks, propelled by the arrival of the Brazilian P-1 variant, says the Health Ministry.The country has immunized less than 1% of its population due to problems in procuring vaccines.

Latin America is more broadly struggling to get its people vaccinated as fast as hoped, a threat to the region's fragile economic recovery during a surge of infections and rising death tolls.The term "about" refers to how important it is to talk about getting these pieces of property ; it is called the "like"

  • Comments
Loading comments...