The International Monetary Fund's World Economic Outlook projects that Paraguay will grow by 3 percent in 2015 compared to the previous year, and again by 3.8 percent in 2016. This outlook stands in stark contrast to expectations for Paraguay's neighbors and fellow Mercosur members Brazil and Argentina, which are set to either contract or see negligible growth over the same period. With the exception of Bolivia, Paraguay is projected to have the highest rate of growth in Latin America over the next two years, just as it has been the region's leader in growth for much of the past decade. Unlike Paraguay’s diversified industrial growth, Bolivia’s economy has been fueled by an increase in natural gas production and exports . Paraguay's strong economic growth stems from several factors. Like most in Latin America, the country’s economy is largely driven by commodity exports.