Santiago Peña of Paraguay ruling party's wins presidential election in landslide victory

In a victory over an opponent from the centre-left, Santiago Peña of Paraguay’s Colorado Party, the country’s ruling conservative party, was elected as president. The 44-year-old economist, Peña won with more over 42% of the votes counted, election officials announced. Nearly 28% of the vote went to Concertación Nacional candidate Efran Alegre. Later, he conceded defeat. For more than 70 years, the landlocked South American nation’s political landscape has been dominated by the Colorado Party. One round of voting determined the winner of Sunday’s presidential election. “Thank you for this Colorado victory, thank you for this Paraguayan victory,” Peña, said in a speech to his fans. He also urged national harmony and agreement. Although this year’s economic growth in Paraguay is predicted to exceed 4%, the nation still has high levels of corruption and poverty. After the recent years of economic stagnation and fiscal deficit, Peña stated, “We have a lot to do. The task that awaits us is not for a single person or for a party.” The election results, according to Alegre, 60, demonstrated that his coalition had made tremendous efforts, but they were insufficient. He promised to fight corruption while running for office and promoted austerity measures to address the expanding fiscal deficit. He also suggested breaking long-standing ties with Taiwan and joining forces with China. Only 14 nations currently have formal diplomatic ties with Taiwan, including Paraguay. The island is seen as a province that has defied Chinese rule and should be brought back under Beijing’s control, including by force if necessary. The Colorado Party received the largest percentage of votes in the legislative elections held in Paraguay on Sunday. Read all the Latest News , Trending News ,  Cricket News , Bollywood News , India News and Entertainment News here. Follow us on Facebook , Twitter and Instagram .