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Macro Scenario – Uruguay: Investments would sustain growth

agosto 19, 2019

New pulp mill boosts growth.


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

• UPM’s announcement of the installation of a new pulp mill brings more dynamism to the activity in 2020. We increased our growth projection for next year to 2% from 1.5% previously. For this year we expect a GDP expansion of 0.5%.

• Inflation has remained above the upper limit of the target range so far this year, but below 2018’s rate due to the strengthening of the peso in real terms. We expect a consumer price increase of 7.5% at the end of the year.

• General elections will be in October, and according to the latest Cifra poll, the Frente Amplio led the intention to vote, followed by the Partido Nacional and the Partido Colorado; the most likely scenario is a runoff on November 24. Regardless of who wins the elections, balancing fiscal accounts represents the main challenge.



Juan Carlos Barboza
Diego Ciongo



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

 



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