Paraguay's economic development was suppressed by political dictatorship in 1950s, which lasted for nearly 20 years, from 1960 to 1970, with an average annual growth rate of 4.2%. In 1970s, the government strengthened its support for agriculture, and the export of agricultural products increased greatly. Itaipu Hydropower Station was jointly built with Brazil and Ya Sireta Hydropower Station was jointly built with Argentina. Fixed capital investment and consumer market have unprecedented good prospects. 1970- 1979, the average annual growth rate of domestic investment is as high as 18.7%, ranking first among South American countries. From 1970- 1980, the average annual growth rate of the national economy rose to 8.5%. In the 1980s, it was affected by the economic crisis passed on by developed countries. After the completion of Iputai Hydropower Station, the construction industry was affected, the prices of agricultural products fell, and the national economy experienced a serious recession. The average speed of L980-1990 is only 2%. After Rodrilos took office, he implemented a series of reform measures, such as privatizing some long-term loss-making state-owned enterprises, reforming the financial system, giving play to the role of private banks, floating the exchange rate and encouraging private investment.

General situation of economy

Paraguay's economy is dominated by agriculture, animal husbandry and forestry, with a weak industrial base. It is one of the most backward countries in Latin America. The current government implements the neo-liberal economic policy, actively expands foreign trade and introduces foreign capital, and strives to integrate Pakistan's economy with the other three members of the market (Argentina, Brazil and Uruguay) and integrate with the world economy. In recent years, Pakistan's economy has maintained a low growth rate.