Asunción, Agencia IP.- Paraguay is projected to have the highest economic growth in the region in 2024, according to the indicator released by the Brazilian Center for Economic Studies, the Getulio Vargas Foundation (FGV). The new projections mentioned in the Latin America Economic Climate Index (ICE) indicate Paraguay with an expansion of 3.9%.
The report also highlights that Paraguay continues to be the country with the best business climate in the region in 2024, leading the list of four countries with favorable ratings compared to other countries that scored low, putting them in an unfavorable position.
Paraguay, with 154.6 points, remains in the favorable zone, along with Uruguay with 139.4 points, Brazil with 114.6 points, and Mexico with 114 points.
Regarding economic growth, Uruguay is followed by Paraguay with a projection of 3.2%, Mexico with 2.8%, Peru with 2.4%, Bolivia with 2.3%, Brazil with 1.9%, Chile with 1.6%, Colombia with 1.3%, and Ecuador with 1.0%.
It is worth noting that this index is compiled from surveys of 103 specialists from 10 countries.
The Economic Climate Index (ICE) for Latin America jumped from 102.0 points in last year’s last quarter to 107.2 points in the first quarter of 2024.
Although the business climate improved in all countries in the region, except for Mexico, where it fell by 27.5 units to 114 points, and Chile, where it decreased by 7.9 units to 72.7 points, Paraguay maintains the best business climate.
The forecast for economic growth in Latin America in 2024 was generally reduced from 1.8% in last year’s quarter to 1.6% in the first quarter.