[Economics] Economy will not grow and will impact shopping centers, they assure

[#Wittels-]

The economic crisis in Paraguay is evidenced by the drop in sales of products of all kinds that affects various sectors of domestic trade. Shopping centers are not exempt from this and they assure that the economy will not grow this year, so they estimate that sales will continue to drop during the year.

The situation is quite complicated for this sector that has been facing the onslaught of the covid-19 pandemic because once again the economic crisis caused by exogenous factors is leaving serious consequences for all of them. Jorge Mendelzon, president of the Paraguayan Chamber of Shopping Centers, said in communication with radio 1000 AM that sales were reduced.

“It is projected that the economy will not grow, this impacts shopping centers. It makes all companies sell less, that's why we say the economy is at a standstill,” Mendelzon said. He explained that although they had been registering a recovery after the lifting of the sanitary measures, there has been a drop since the beginning of this year.

 

He pointed out that the economic conditions are mainly due to the prolonged drought that the country experienced and what had a negative impact on the agro-export sector. He indicated that agricultural production decreased millionaire losses due to the 60% drop in production this season. This resulted in a lower amount of foreign currency income to the country, so the recession in the country's economy is felt that all commercial sectors must face. To this already difficult situation is added the inflationary reality that mainly affected the products of the family basket.

Mendelzon explained that there is a reduction in purchasing power, so the situation is increasingly difficult, reaching the point of needing actions from the Government in order to mitigate the consequences that have in all sectors that register low sales. . He indicated that the war situation in Europe influenced the economic crisis due to the rise in prices of various products.

 

Link: https://www.lanacion.com.py/negocios_edicion_impresa/2022/04/16/economia-no-crecera-e-impactara-a-centros-comerciales-aseguran/