Support Live Chat
Nov 8, 2017 in Economics
Government Economy Controll
Economy of Paraguay
Paraguay has an economy which is controlled by government. The government controls the economy through regulation of exportation and production method, prices control, controlling production and exercising monopolistic rights on the country economy. Over one decade since the implementation of the international monetary fund (IMF) some government controls have been eased in the Paraguay economy. In the agriculture there is an annual plan to increase the quotas although this has been characterized with a challenge of meeting the deficit rather thanthe sulplus.The introduction of national development bank in Paraguay has resulted to establishment of credit which is easily affordable to the people of Paraguay. Paraguay has also opted to develop a close economic relationship with United States, brazil and other European nations in order to try and reduce the country reliance on trade to Argentina.
Economic planning in Paraguay is done by the Technical Secretariat of Social and Economic Development, which was established in the year 1962. The first country economic plan covered the 1964-1965, the second 1966-1967 and lastly a five years economic plan which covered for the 168-1972 (John, 2009). The five years economic plan called for a 25 % increase in the level of investment on agriculture. The plan also gave a high precedence to hydroelectric project which would bring more development in the country.
A recent Paraguay economic plan has advocated for a more equitable method for distribution of societal resources to the people of Paraguay. An economic plan developed in October 2003 provided a complete reform in terms of foreign exchange rate and fiscal policies. Economic reforms looked more into diversification of the general economy, fighting corruption in the economy which has become an hindrance to the country’s economic growth.
In Paraguay by the year 2005, foreign debt has gone up to $3.2 billion, inflation has reached 14% and the country lost 40% of the currency value against the United States dollar in 2003. in 2004 the country economy was characterized by increasing levels of unemployment, slow economic growth and high levels of poverty. John, (2009) due to all this problems the international monetary fund (IMF) advised the country to renew its privatization program in order to strength the economic situation in the country.
Paraguay has experienced economic shocks in recent years which have been worsened by poor economic planning. Structural limitation such as poor governance, ineffective public investment methods, a weak tax system and poor governance are the key major factors that have led to economic shocks and low economic growth in Paraguay. Paraguay should focus on adoption of comprehensive planning programs of structural and fiscal policies. Adoption of this strategy will lead to restoration of economic sustainability, improving the government spending on the economy, fighting corruption and greatly improving the Paraguay economic governance.
Due to the huge debt burden in Paraguay the government should came up with a comprehensive and balanced policies to improve the fiscal imbalances experienced in the country. Such balanced policies will strengthen the tax system in the country hence leading to increased revenue collection. It is also highly recommended that the government need to push for reforms on government employees pension plan in order to increase the saving level which will eventually lead to increase in levels if investment in the country.
Adjustment policies should also be included in the in the government expenditure. Suitable adjustment on electricity and fuel prices should be made to reflect the market dollar cost so as to enhance public and government cash inflows (William,2000).There should be also revision of the privatization program in order to promote a transparent program in the running of the countries economy. The government should raise methods and policies that are efficient in improving public enterprise such an advance pricing system and better private management’s contracts so as to pave way for ultimate privatization.
The governing economical authorities should try and reinforce the set framework of monetary policies so as to increase the central bank operational sovereignty. In foreign exchange market it is recommended that the central bank should have less intervention in its activities so as to permit elasticity of the exchange rate that assist in moderating economic shocks and control reserves for backing up monetary deposit in the banking system. It is also encouraged the economic authorities should work towards achieving appropriate macroeconomic policies which will increase economic growth in the government (William, 2000).
In conclusion government authorities in Paraguay should strengthen supervisory and regulation practices, so as to monitor the baking system closely and more generally to take a positive attitude in responding to any economic difficulties that many arise. The authorities are also required implement a plan that would address the issue of terrorist and money laundering that greatly affects the country economically.
- Cost Control Techniques
- Political Economics
- Cons Supply-Side Economics
- Commercial Sales Division
- Employee Compensation
Customer`s comment 26 days ago
Big thanks to your writing team for coming through for me with my last order. I didn’t give them a lot of notice, but they were able to come up with a superb paper for me. This is the kind of service that I love. Sometimes, I get forgetful, and I forget when my paper due dates are. It is so comforting to know that I can be in a rush and contact Essays-Writer.net and that you will deliver a great paper for me, no matter what. The fact that you include an anti-plagiarism report is great, too. I appreciate knowing that my work is totally original. Essays-Writer.net rocks!
Customer`s comment 14 days ago
Your writers are masters at time management. I turned in an order for four very difficult papers, and they were all written perfectly, even with the short deadline notice. Thanks, Essays-Writer.net!
Customer`s comment 7 days ago
Your writing company delivers for me every time. I have never been disappointed.
Customer`s comment 6 days ago
I was happy with the two essays that your writers did for me. Even though the subject matter was quite dense, they managed to come up with high quality work. This has been my experience with Essays-Writer.net, over the long haul. Each and every time I have needed a high quality paper, you have come through with outstanding writing examples for me. I am pleased to recommend your writing service to my friends and colleagues.
Customer`s comment 15 days ago
The work I received from your writers was much better than expected, especially considering the affordability of your services! This is so impressive! I wasn’t aware, previously, that companies like Essays-Writer.net even existed, but then again, I’m pretty sure you are the only one that is this good. I have heard a lot of bad things about other writing companies, but never a negative word about Essays-Writer.net. You are reputed as being the best, and I, for one, am convinced that this is true.Thank you for the outstanding job you did on my essay and research papers.
Customer`s comment 5 days ago
Thank you for the great paper! My professor gave me a high mark for it.
Customer`s comment 21 days ago
As always, your writers have completed another impressive paper. This time, the subject matter required a lot of research. They not only completed the research. They also documented it absolutely perfectly. It would have taken me months to write a paper this thorough and of this high quality. Thank you so much for your diligence. It was greatly appreciated.
Customer`s comment 1 days ago
I find your writing service to be staffed with serious professionals who understand the urgency of turning out great writing for your customers. I have ordered papers from you for a year and a half now, and each time, I have been given superb papers that were error free and interesting to read. I truly appreciate your efforts, and hope to continue to do business with you from this point forward. You deserve my loyalty, because you are certainly loyal to your customers! Wishing you all the best.
Customer`s comment 19 days ago
Once again, I have sat down at my computer, because I feel I owe you big thanks. There is just no way to express how grateful I am for everything you did to make my research paper as good as it was. My professor gave me an A+ on it, which is the first A+ I have received during my entire college career.
Customer`s comment 8 days ago
Now I know where to go when I need an excellent paper written on a short notice. I am very happy with the paper your writers just produced for me. It was absolutely perfect. Please thank the ones who handled my order and let them know that I will definitely do business with Essays-Writer.net again.
Customer`s comment 22 days ago
Dear Writers #0019, Thank you for taking such a good care of me. I apologize for being as picky as I was, but I was only reflecting the professor’s requirements. I couldn’t believe my eyes when I got my grades back. He gave me an A+ on the paper, which is almost unheard. The paper you produced for me included each and every thing that the professor had required. He is notorious for giving us next-to-impossible tasks to perform in his class, but you managed to pull it off. I don’t know if any other student has received an A+ in this guy’s class, but he simply could not find a single thing wrong with my paper! Yay! Thanks so much.
Customer`s comment 23 days ago
My professor told me that the essay you wrote for me was the best one in the whole class! Thanks for doing such a good job. Compliments from this professor are rare!
Customer`s comment 13 days ago
Dear Essays-Writer.net, You handled my rush order beautifully. I am still amazed by the quality of the term paper, because your writers didn’t have a whole lot of time to write it. Still, they did a great job and I’m happy that I chose Essays-Writer.net. Thank you for taking care of this in such an eloquent way.
Customer`s comment 6 days ago
Dear Madam or Sir, Thank you for your competence and high standards. My paper was wonderful! I shall recommend your writing services highly. You are far and above better than other writing services that I have used. Your professionalism, attention to detail, high quality writing and great prices are a few of the reasons why I will never use any other writing service. Thanks again.
Customer`s comment 14 days ago
I am getting ready to graduate in another week, but had to take a minute to jot this line because I want you to know what a help your writing service has been to me, especially during my junior and senior years. The work has been hard, and I have had to study virtually all the time. With you helping me out with my more challenging writing projects, I have been able to move forward and do well on my tests and other school projects. I will be forever grateful to you for your help, and I wish you continued success with your fantastic writing service. All the best!