Fiscal Balance in Uruguay

Uruguay Fiscal Balance | Economic News & Forecasts

Uruguay - Fiscal Balance

After the economy remained below its pre-pandemic level last year, growth likely picked up in Q1. Booming agricultural commodity prices led annual export growth to average 35.1% in the quarter. Private consumption probably weathered the Omicron wave well thanks to the country having one of the world’s highest vaccination rates. This said, rising commodity prices increased inflation, limiting spending. Turning to Q2, momentum is being boosted by the relaxation of Covid-19 restrictions in April. In the same month, the government announced tax cuts and increases in public sector pensions and wages to ease rising cost of living pressures. These measures should support consumption but will also widen the fiscal deficit. That said, continued fiscal consolidation is a priority on President Luis Alberto Lacalle Pou’s 2022 policy agenda.

Uruguay - Fiscal Balance Data

2015   2016   2017   2018   2019  
Fiscal Balance (% of GDP)-3.4  -3.7  -3.5  -2.9  -3.4  

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Uruguay Facts

Value Change Date
Exchange Rate37.330.24 %Jan 01

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