Fiscal Balance in Uruguay
Uruguay - Fiscal BalanceAs widely expected, the presidential elections on 27 October was a tight race. Daniel Martínez, the candidate of the ruling Broad Front party, won the first round with 40.7% of the votes but was short of the majority needed for an outright win. A second round will now be held on 24 November, in which Martínez will face Luis Lacalle Pou, the leader of the opposition National Party, who came in second with 29.7% of the votes. Despite diverging views between the two candidates over how to tackle the fiscal deficit problem and spur economic activity, economic policy continuity is expected irrespective of the second-round outcome, chiefly thanks to the need for consensus building in the government. The elections come against a backdrop of a seemingly more upbeat third quarter compared to the first half of the year. The industrial sector strengthened in July–August compared to Q2, while unemployment fell sharply in the same period, from June’s 12-year high. Moreover, merchandise exports surged in July–August, reflecting stronger soybean exports.
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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November 11, 2019
Industrial production rose 4.3% in annual terms in September, accelerating slightly from August’s 4.1% increase and marking the strongest increase since October 2018.
November 6, 2019
Consumer prices rose 0.8% from a month earlier in October, accelerating from September’s 0.5% increase.
October 14, 2019
Industrial production rose 4.1% in annual terms in August, following July’s flat reading and marking the strongest increase since October 2018.
October 9, 2019
At its 9 October monetary policy meeting, the Central Bank of Uruguay lowered its target for the growth rate of the M1+ money supply in Q4 2019 to 7.0%–9.0%, from the previous quarter’s target of 8.0%–10.0%.
October 7, 2019
Uruguay’s 27 October elections remain highly uncertain.