Economy / Paraguay
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The Return Of The Fiscal Deficit?
September 2006 | Market StrategySorry, you must be a subscriber to view this article in full. If you are a subscriber please login.
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The Paraguay government presented its budget for 2007 to the congress, which foresees a nominal fiscal deficit of 0.8% of GDP (US$83mn). This is similar to 2006's originally planned nominal fiscal deficit of 0.75% of GDP, which has, however, been already revised upward to 1.5% of GDP by congress earlier this year. The issuance of local guaranie-denominated bonds worth PYG667.1bn is expected to cover part of next year's expenditures. The government states that in 2007 particular emphasis will be put on health, education and social security, planning on increasing social spending to 44% of total public expenditure in 2007. Although