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Paraguay to use public spending to fight crisis

Paraguay to use public spending to fight crisis

Paraguay plans to fight off the world economic crisis with public spending.
Economy Minister Dionisio Borda says the Latin American nation will spend some $800 million on infrastructure and other government projects in 2009.
Borda says the country also has $40 million to help the more than 100,000 families living in extreme poverty in Paraguay.
On Tuesday, the Central Bank forecast 5 percent growth for 2009. But Borda says realistically it will be closer to 3 percent.
Paraguay closed out 2008 with growth of 5.8 percent and inflation at 7.5 percent.


Updated : 2021-06-14 01:56 GMT+08:00