Itaú BBA - Macro Scenario – Uruguay: Challenges for the new administration

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Macro Scenario – Uruguay: Challenges for the new administration

Janeiro 22, 2020

The fiscal deficit increased in 2019, becoming the foremost challenge for the new government


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

• The fiscal deficit increased in 2019, becoming the foremost challenge for the new government. In addition, inflation ended 2019 above the BCU’s target range for the second consecutive year, and GDP growth was weak.

• In 2020 we expect 1.5% GDP growth (up from 0.3% in 2019), supported by investments for the startup of a new refinery and further growth in Brazil. We project a slight slowdown in inflation and a slight fiscal consolidation.

Juan Carlos Barboza
Diego Ciongo



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

 



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