Fiscal Balance in Uruguay
Uruguay - Fiscal BalanceThe economy contracted at the sharpest pace in over 16 years in the first quarter, hit by the coronavirus pandemic, and will have deteriorated further in the second quarter. An abysmal external sector drove the downturn in Q1, as containment measures and Argentina’s dire economic situation extinguished tourist arrivals in March. In contrast, domestic demand gained momentum, led by stronger investment activity and consumer spending. Turning to Q2, industrial production slumped in April and merchandise exports plunged in April-May, spelling trouble for private-sector activity. Moreover, real wages continued to fall in May on an annual basis, which bodes ill for household spending, while May’s figures confirmed the significant impact of Covid-19 on public coffers. On a more positive note, at end-June the World Bank granted the country a USD 400 million loan to reactivate the economy.
Uruguay - Fiscal Balance Data
|Fiscal Balance (% of GDP)||-3.4||-3.7||-3.5||-2.9||-3.4|
5 years of economic forecasts for more than 30 economic indicators.
|Exchange Rate||37.33||0.24 %||Jan 01|
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July 14, 2020
Industrial production nosedived 19.6% year-on-year in May (April: -19.3% yoy).
July 6, 2020
Consumer prices were unchanged from a month earlier in June, following the 0.6% increase recorded in May.
June 26, 2020
At its 25 June monetary policy meeting, the Central Bank of Uruguay increased its target for the growth rate of the M1+ money supply in Q3 2020 to 7.0%–10.0%, from the previous quarter’s target of 3.0%–5.0%.
June 22, 2020
The economy slumped 1.4% year-on-year in the first quarter of 2020, after expanding 0.2% in the fourth quarter of last year, recording the worst contraction since Q2 2003.
June 11, 2020
Industrial production nosedived 19.3% year-on-year in April (March: +4.7% yoy).