Fiscal Balance in Uruguay
Uruguay - Fiscal BalanceThe economic situation remained dire in the second quarter following the first-quarter downturn, haunted by frail external conditions and faltering domestic demand. Unemployment jumped to an over one-decade high in Q2, signaling a sustained downturn in household consumption, while a weaker peso boded ill for investment. Meanwhile, the country is gearing up for a presidential election due on 27 October, with early polls suggesting a tightly contested race between the Broad Front Party’s Daniel Martínez and the National Party’s Luis Lacalle Pou. Against this backdrop, on 6 August, Moody’s affirmed Uruguay’s Baa2 credit rating with a stable outlook, citing low political risk thanks to the country’s mature and consensus-building political system. That said, Moody’s noted that gradually eroding fiscal strength and a structural decline in growth potential could dampen the outlook in the near future.
Uruguay - Fiscal Balance Data
|Fiscal Balance (% of GDP)||-2.3||-3.5||-3.6||-3.8||-3.5|
5 years of economic forecasts for more than 30 economic indicators.
|Exchange Rate||36.72||0.24 %||Sep 04|
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September 4, 2019
Consumer prices rose 0.9% from a month earlier in August, accelerating marginally from July’s 0.8% increase.
August 5, 2019
Consumer prices rose 0.8% from a month earlier in July, accelerating mildly from June’s 0.6% increase.
July 12, 2019
Industrial production fell 2.5% over the same month of the previous year in May, contrasting a mild 0.4% year-on-year increase in April which had marked a short-lived return to output growth.
July 12, 2019
At its 12 July monetary policy meeting, the Central Bank of Uruguay maintained its target for the growth rate of the M1+ money supply in Q3 2019 at 8.0%–10.0%, unchanged from previous quarter’s target.
July 4, 2019
Consumer prices rose 0.6% from a month earlier in June, up slightly from May’s 0.4% increase.