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BACKGROUND

ECONOMY

ECONOMY

Paraguay 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 presidency began on 15 August 2018, he has promised low tax policies and boost agricultural exports. Also, among his main priorities are the implementation of new infrastructure plan. Paraguay constitution mandates separation of powers in three, executive power exercised by the President, legislative power with two chambers of the National Congress, and the judiciary power tribunals, courts and a Supreme Court of Justice, all of them independent powers.

LOCATION

LOCATION

Paraguay is a landlocked country located between Argentina, Brazil and Bolivia, home to large swaths 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 CAF Development Bank of Latin America, IADB Inter-American Development Bank, World Bank and bilateral financial agreements.