Paraguay faces a tough economic forecast for 2025 due to drought impacting agricultural production and driving prices up. Economy Minister Carlos Fernández emphasizes the need for innovative policies and improved public spending to support essential services. The Agriculture Ministry aims for enhanced irrigation to ensure steady agricultural output. Collaborative efforts with Thailand aim at strengthening industrial cooperation, particularly in the automotive and food sectors.
Paraguay’s Economy Minister, Carlos Fernández, predicts a challenging 2025 due to drought conditions adversely affecting agricultural production and increasing prices. He emphasized the importance of innovative policies and ongoing assessments to support essential services such as health, education, and security, amid plans by President Santiago Peña’s government to improve public spending.
The Agriculture Ministry aims to enhance irrigation systems to ensure consistent agricultural output. Following a cabinet meeting, Fernández acknowledged that drought conditions would impact production levels in both large and medium enterprises, consequently leading to higher consumer prices.
He stated, “On the part of the Ministry of Economy and Finance (MEF), we will continue working in a difficult year, from the economic point of view, due to the issue of drought.” Furthermore, he highlighted the need for ongoing innovation to better meet consumer satisfaction as economic conditions evolve.
Fernández reiterated the necessity of developing new policies to adapt to changing political, economic, and social landscapes. He assured that MEF would prioritize funding for health, education, and security. “We have the obligation to do more. That is why we are in office,” he remarked, emphasizing the importance of improving public spending to meet citizen demands.
Meanwhile, Agriculture and Livestock Minister Carlos Giménez expressed the government’s goal of significantly expanding irrigation systems to prevent situations where agricultural production halts for extended periods, leading to increased imports. In parallel, Paraguayan authorities engaged with Thailand’s Industry Minister, Akanat Promphan, to strengthen industrial development cooperation, particularly concerning investments in the automotive industry, including electric vehicles. Discussions also focused on enhancing the food sector and promoting processing industries for better export value.
In conclusion, the drought in Paraguay is poised to impact agricultural production significantly, resulting in increased prices for consumers. The government is urged to adopt innovative policies and enhance public spending to address these challenges effectively. Collaboration with international partners further highlights the importance of strengthening Paraguay’s industrial capabilities and agricultural resilience moving forward.
Original Source: en.mercopress.com
