Asunción, Paraguay – Paraguay has received positive news from the global rating agency, Standards & Poor’s (S&P), as its credit rating outlook was upgraded from "stable" to "positive." This upward revision reflects the international financial market's growing confidence in Paraguay's robust economic growth and fiscal soundness.

President Santiago Peña expressed his delight at the news, attributing it to "the hard work and dedication of all Paraguayans." He emphasized that Paraguay is "firmly establishing itself on the world stage once again."

Echoing the president's sentiments, Finance Minister Carlos Fernández praised Paraguay's transformation into a "stable, reliable, and resilient economy."

In its assessment, S&P highlighted Paraguay's large-scale forestry and energy projects as key drivers of economic diversification, contributing to sustainable GDP growth and reduced external dependency. The agency also commended the government's strong fiscal discipline for stabilizing debt burdens.

S&P indicated that Paraguay could be upgraded to investment grade within the next 12 to 24 months if it maintains its strong growth trajectory and fiscal health. However, the agency cautioned that a downgrade could occur if economic growth slows or debt burdens increase.

This positive assessment from S&P is seen as a promising sign for Paraguay's economic future. It is expected to attract increased international investor interest and boost foreign direct investment.

[ⓒ Global Economic Times. 무단전재-재배포 금지]