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After a series of recessionary events, the global economy continues to recover while inflation continues its downward path. The region, with some exceptions, mirrors these trends, as well as Uruguay, where domestic specificities also come into play.

After the pandemic and the end of the construction of the third pulp mill, the Uruguayan economy faces a couple of years of moderate growth. However, in the long term, recent improvements in the sovereign risk rating reinforce the institutional quality and strength of the country's macroeconomic fundamentals.

The growing geopolitical uncertainties between the United States and China were, to some extent, a determining factor in the increased regulations by advanced countries to discriminate against the flow of funds from China. In this context, Chin…

In 2022 the activity in Uruguay will grow 4.7%, with an important statistical contribution that leaves the 4T21 and the contribution of investment, external demand and consumption to a lesser extent. The conflict in Europe has a moderate net po…

The global economy keeps recovering in spite of the uncertain epidemiological context. World GDP growth should be 5.9% in 2021. The worsening health situation slows down economic activity in Uruguay, which will grow less than expected in 2021.

Uruguay has reduced its trade openness in recent years, which was boosted in 2020 by the irruption of the Covid-19, causing a substantial drop in external demand, which will explain much of the fall in Uruguay's GDP to 4.1% this year.