Uruguay Economic Outlook. Second half 2019

Summary

We revised Uruguay's GDP growth downwards due to greater global uncertainty.

Key points

• Key points:
• The global environment, characterized by a slowdown in growth and high uncertainty, will further complicate the recovery of economic activity in Uruguay, which is slowing down.
• Uruguay goes for the second round on November 24 to define who will be the next president. Regardless of who wins, he must make the necessary reforms to achieve fiscal consolidation.
• The Central Bank of Uruguay maintains its policy of intervening whenever exchange rate volatility increases.
• Inflation expectations rise and will remain outside the target range again in 2020.

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