Unfortunately, that’s nothing new. In Europe and in the U.S., but also in the rest of the world, Coronavirus rhymes with economic crisis: crisis of the profits, crisis of purchases and so on….
In a word: crisis. The entire economy of the States (and in the industrialized countries it is felt with greater hardness) has stopped, to allow the National Health Systems, in the persons of doctors, nurses, researches, epidemiologists to fight the virus to the hilt.
Lock-down means no contact to have no infection; shops, factories, companies, schools, universities: everything closed. All services, except for the essential ones, have been suspended in Italy and in several other European countries, and U.S. are imitating Europe.
That’s good for virus. These measures are absolutely necessary to hold the infection, limit it, reduce severe cases, who need intensive care, but primarily try to reduce the real drama of this virus: the deaths. Deaths, that have reached impressive figures: worse than a war and lock-down is the only solution to avoid having to cry more deaths.
But the economy? Economy is living its worst period after the Second World War.
In Italy, in Europe and certainly also in the U.S. lie ahead difficult times. You will need to buy only just enough, avoiding all unnecessary expenses and prepare for a work reduction. For both employees and freelance professionals, will begin a not easy period and they will have to make every effort, in order to overcome this crisis as soon as possible.
WHAT’S HAPPENING IN PARAGUAY?
Paraguay also was reached by Coronavirus, and has implemented important security measures to hold the infection and search in every way to limit the movement of this terrible virus.
Paraguay also has implemented the lock-down, although in proportion the numbers are not those of Europe and U.S. and has locked factories, shops and non-essential services.
But it is not possible not to notice that this little and dynamic country has uncommon will and tenacity. Economy, despite the strong shock due to Coronavirus, is holding and is holding very well.
The numbers speak for themselves: the Central Bank of Paraguay has published in April a report that concerns the Expectations of Economic Variability. These data say that in Paraguay inflation is 3,5% and it is expected that in 2021 will come to 4%.
Therefore, it is expected that for the next 12 months and considering the horizon of monetary policy, attested to be between 18 and 24 months, that is in April 2022), the inflation of Paraguay will not exceed 4%, despite the dramatic period of global pandemic.
Considering inflation on a monthly basis, this report says that during this month (April 2020) monthly inflation stands at 0,2%; this figure is less than both the one of April 2019 (0,3%) and the one of March 2020 (0,3%). And for May 2020 experts predict that inflation does not exceed 0,3%.
Regarding instead the economic growth prospects, economist predict a economic growth of 1,5% for year 2020 and up to 3,5% for year 2021. A truly exceptional perspective.
If we refer to the evolution of nominal rate exchange from Guaraní, (the local currency of Paraguay) to US dollar, we see that now in April 2020, a dollar is worth 6475 guaraní and in May it is expected that a dollar is worth 6545 guaraní. By the end of 2021 economist predict that this figure settles at 6600.
What can we say? The industriousness and the initiative of this small country, together with its great opening towards foreigners, who more and more often apply for permanent residence to live in Paraguay and benefit from many tax advantages, are evidently bearing fruit!
PERMANENT RESIDENCE IN PARAGUAY: LIP CAN HELP YOU!
If you really want to change your life, enjoy your tax-free pension, or if you are a young graduate or a businessman and you dream of to pay a 10% VAT rate or even if you want to use your qualification without the need for a validation on the ground, then fly to Paraguay.
Living in Paraguay is the only European certified company specialized in obtaining your permanent residence in Paraguay. It is registered in Estonia, the most digitalized country in Europe and all its contracts are registered and guaranteed by European Union.
With Living in Paraguay you can also sign your contract and apply for an online consultancy.
Once you have discovered all the benefits Paraguay can offer you and you have decided to live this new and fascinating adventure, the skilled consultants of LIP will fly with you to Paraguay on an exploratory trip and will help you to find your new home, to open a bank account and so on…
Of course, they will especially take care of managing your paperwork and allow you to obtain your permanent residence (on average 3 or 4 months and no later than 6 months).
If you are curious about this possibility, all you have to do is to book an informative advice on our site to have all the information you need!
We are waiting for you!