Mr. Pena won 42.7% of the vote after 99.9% of the ballots were counted, leading more than 15 percentage points over his opponent Efrain Alegre, thereby officially winning.
Paraguayan President-elect Santiago Pena. Photo: Reuters
“Thank you for this victory of the Colorado Party, thank you for this victory of Paraguay,” Mr. Pena said in a speech. Meanwhile, Mr. Alegre has conceded defeat.
Current President Mario Abdo also congratulated Mr. Pena as "President-elect." The leaders of Brazil and Argentina also sent congratulatory messages. The Colorado Party also recorded record high support rates in several states.
Mr Pena will face the challenge of reviving Paraguay's farm-based economy , including improving a large fiscal deficit and addressing growing pressure from soy and beef producers.
"We still have a lot of work to do, after years of economic stagnation and budget deficits, the task that awaits us is not the responsibility of one person or one party alone," Mr. Pena said in his victory speech, calling for "unity and consensus".
The election also underscored the dominance of the Colorado Party, which has been in power for 75 years and has a fierce campaign machine, despite growing discontent among some voters over a slowing economy and allegations of corruption.
Trung Kien (according to Reuters)
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