The candidate of Paraguay’s ruling right-wing Colorado party, Mario Abdo Benítez, won narrow victory in Sunday’s presidential election. He will take office on August 15 when President Horacio Cartes steps down.
Mr Abdo Benítez, whose father was the secretary of long-ruling dictator Alfredo Stroessner, won 46.4 per cent of the vote. The defeated centrist opposition candidate Efraín Alegre secured 42.7 per cent of votes. Mr Abdo Benitez’s victory solidified the rightward political shift in South America.
The Colorado party has held on to the presidency for more than seven decades, with the exception of a brief period from 2008-2013.
Mr Abdo Benítez, a former senator, will inherit one of the fastest growing economies in South America. Gross domestic product expanded 6 per cent annually between 2013 and 2017, outpacing the rest of the region. An economic boom was fuelled by exports of agricultural products and an increase in public investment. The economy is expected to grow 4.5 per cent this year.
Strong growth, however, has failed to reduce a high level of poverty, with more than a quarter of the population live below the poverty line. The landlocked country remains one of the continent’s poorest and most corrupt.
Mr Abdo Benítez has pledged to keep taxes low, but improve tax collection. He plans to spend more on education and healthcare and promote foreign investment.
Photo: OAS
