Paraguay’s 2027 budget projects 4.2% GDP growth and a 6,458-guaraní dollar

Paraguay’s government has submitted its proposed 2027 national budget to Congress, forecasting 4.2% growth and setting a reference exchange rate of 6,458 guaraní per U.S. dollar.

The budget document, signed by President Santiago Peña and Economy and Finance Minister Óscar Lovera, projects nominal gross domestic product at 433 trillion guaraní in 2027, compared with an estimated 401.3 trillion in 2026 and 371.8 trillion in 2025. The projected growth rate represents a slight slowdown, while the government describes the broader economic outlook as one of continued expansion.

For 2026, the executive branch confirmed the Central Bank of Paraguay’s estimate of 4.5% real GDP growth. If achieved, that would complete four consecutive years in which the economy expanded by more than 4% annually. The 2026 forecast includes estimated growth of 4.6% in commerce and services, 4.6% in industry, electricity and construction, and 3.8% in agriculture and other primary activities.

The document also points to recent economic indicators. Through the first half of 2026, Paraguay’s Monthly Economic Activity Indicator had risen 5.6% from a year earlier. Through July, total exports had increased 25.2% year on year.

The proposed 2027 exchange rate is higher than the estimated 2026 average of 6,217 guaraní per dollar, implying a slight depreciation. It remains below the 2025 level of 7,545 guaraní per dollar. The article also recalls that the 2026 budget had been based on a 3.8% growth forecast, 3.5% inflation and an exchange rate of 7,881 guaraní per dollar, assumptions linked in the article to a crisis in tax revenues.