Paraguay ups growth outlook to 9 pct on agriculture

* Previous forecast was for 6 percent

* Agriculture, livestock, construction spurring rebound

* Expects more moderate growth in 2011

ASUNCION, Aug 24 (BestGrowthStock) – Paraguay raised its 2010
economic growth forecast to 9 percent from 6 percent on an
improved agricultural production outlook. the central bank said
on Tuesday.

Growth of 9 percent would be the Paraguayan economy’s
biggest annual expansion in 29 years. Paraguay is the world’s
No. 4 soy exporter.

Paraguay, one of South America’s poorest countries, saw its
gross domestic product shrink 3.8 percent in 2009 after six
straight years of growth, hurt by the global economic crisis
and a prolonged drought.

Jorge Corvalan, the president of the Paraguayan central
bank, said growth in the livestock and construction sectors
were also spurring the country’s economic recovery.

Paraguay expects more moderate growth, close to the
historical average of 4.4 percent, in 2011, he added.

Paraguay’s economy surged 10.9 percent in the first quarter
from the year-earlier period.

(Reporting by Daniela Desantis and Mariel Cristaldo, Writing
by Kristina Cooke; Editing by Paul Simao)

Paraguay ups growth outlook to 9 pct on agriculture