Paraguay History

Paraguay Experiences Largest Economic Growth in South America

 

In 2010, Paraguay experienced the greatest economic expansion in South America. Its economy was the 2nd fastest expanding economy in the world, after Qatar. Paraguay had a GDP growth rate of 14.5% by the end of 2010. Part of the expansion was due to long-term growth in the country's industrial sector, after years of declining production. Another reason was that rise of Paraguay's pharmaceutical industry, which supplied 70% of domestic consumption in 2010 and even begun exporting drugs. The country also showed rapid growth in the areas of steel, meat processing, organic sugar, and edible oils.

In August 2010, President Fernando Lugo was diagnosed with non-Hodgkin lymphoma. He sought treatment in Brazil. He managed to continue his duties as President while undergoing treatment. President Lugo was one of several leaders in the region recently diagnosed with cancer. President Dilma Rousseff of Brazil was treated for lymphoma in 2009. In December 2011, Argentina's president, Cristina Fernández, was treated for thyroid cancer. Venezuela's Hugo Chávez underwent treatment for an undisclosed type of cancer in 2011.