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Economy

Economy

Just as the BBVA Group is reinventing itself to offer the best customer experience and customer experience and lead the new financial industry, we at BBVA Paraguay are hard at work to contribute to this transformation process. And we have the best talent in the country to do so.

If there is something that unites the BBVA Paraguay team is its members’ passion for the brand. And no other color reflects that passion better than blue.

In the last five years, Paraguay’s economy grew at an annual average rate of around 5% – one of the highest in the region. This economic performance is especially remarkable considering it occurred in a rather volatile international environment, characterized by turbulent international financial markets, lower capital inflows to emerging economies and falling prices for metals and agricultural products. The Paraguayan economy was also affected by declining activity of some the region’s most significant trade partners.

Technology is transforming the food industry. Scanners to determine food composition and menu creation using smartphone data are two of the trends that are taking off.

One of the questions hanging over the European economy and more specifically, the financial sector, is if the ECB will maintain its current policy of low, or even negative, interest rates for an extended period of time. Moreover, after the warnings announced last Thursday by the Chair of the Federal Reserve, Janet Yellen, who predicted a hike of the interest rates “relatively soon” if the improvement in the labour market and the inflation continues.

Economists and experts differ over whether this policy is reaching its end, or is here to stay for a while. While the ECB decides if the low rates will remain or start to increase, banks are reflecting on how to face this new environment that is putting their profitability at risk. One key way is through digitization.