ASUNCION, Paraguay (AP) - President-elect Fernando Lugo has tapped an austerity-minded former economy minister fired by his predecessor to return to the post, his running mate said Sunday.

Dionisio Borda was previously economy minister for three years beginning in 2003 until he was forced out, apparently the casualty of a power struggle within current President Nicanor Duarte’s ruling Colorado Party.

Lugo’s vice-president-in-waiting, Federico Franco, said Borda had accepted a formal offer to fill the position after the new administration takes power Aug. 15.

Franco said Borda was largely responsible for a 6 percent economic growth spurt last year, after his ouster. He is known for running tight budgets.