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BACKGROUND

ECONOMY

ECONOMY

Paraguay's economy is highly dependent on agriculture products. Recently, the economy has grown as a result of increased agricultural exports, especially soybeans. Paraguay has the economic advantages of a young population and vast hydroelectric power. The government welcomes foreign investment.

POLITICS

POLITICS

Mr. Mario Benítez became President on 15 August 2018 and he has promised low tax policies to boost agricultural exports. Also, among his main priorities are the implementation of a new infrastructure plan. Paraguay's Constitution mandates separation of power into three, independent powers; executive power exercised by the President, legislative power within two chambers of the National Congress, and the judiciary power is made up of tribunals, courts and the Supreme Court of Justice.

LOCATION

LOCATION

Paraguay is a landlocked country located between Argentina, Brazil and Bolivia, home to large areas of swampland, subtropical forest and chaco, wildernesses comprising savanna and scrubland.

INTERNATIONAL SUPPORT

INTERNATIONAL SUPPORT

Most infrastructure projects are open for international competitive bidding and are funded either by the Government of Paraguay or major international financial institutions, such as Development Bank of Latin America, IADB Inter-American Development Bank, World Bank and bilateral financial agreements.