Paraguayan economy expands 8.2 pct in first half

ASUNCION, Oct 10 (Reuters) - Paraguay's economy grew 8.2 percent in the first half of 2008 compared with the same period last year, keeping the country on track for a third straight year of growth, the central bank said on Friday.

The bank expects the South American nation's economy to grow by about 5 percent this year, but it cautioned about the potential impact of the global financial crisis, which could hit Paraguay's key agricultural exports.

"We'd mentioned a growth rate of 5.4 percent, which was a pretty conservative estimate at the time. We still have to evaluate new information, but we think that rate will be maintained," Miguel Mora, economic studies chief at the central bank, told reporters.

According to the organization, the economy expanded 8.9 percent in the second quarter of 2008 compared with the same three-month period last year -- boosted by increased construction activity and the ranching and farming sectors.

Paraguay is the world's No. 4 soybean exporter and is also an important regional supplier of beef. Its economy grew 6.8 percent last year, the quickest rate in more than 20 years, thanks largely to increased soy output. (Reporting by Mariel Cristaldo; Writing by Helen Popper; Editing by Diane Craft)