Itaú BBA - Macro Scenario – Uruguay: Closed borders

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Macro Scenario – Uruguay: Closed borders

January 18, 2021

For 2021, we maintain our growth forecast of 3.0%, with downside risks

For the version with all charts and tables, please open the attached pdf file

 
The closing of the country’s borders due to the increase in COVID-19 cases has affected tourism-related activity. We expect GDP to rebound by 3.0% this year, with downside risks following the 5.5% drop expected for 2020.

 Inflation slowed down to 9.5% in 4Q20, but still missed the central bank target range 3% -7% range. We project inflation of 8.0% for 2021.

Juan Carlos Barboza
Diego Ciongo


For the version with all charts and tables, please open the attached pdf file



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