In brief: Paraguay’s deficit to exceed cap in 2020, estimates Itaú

* Brazilian economic consultancy firm, Itaú Macro, has predicted Paraguay’s economy will grow 3.5% in 2020 and that its fiscal deficit will close the year at 2.2% of GDP, which is above the 1.5% limit established by the country’s fiscal responsibility law (LRF). Paraguay's congress had exceptionally raised the cap to 3% last year. According to Itaú Macro the deficit closed at 2.8% of GDP in 2019, double that registered in 2018.

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