ZCZC
BCN-34
URUGUAY-ECONOMY-GROWTH
Uruguayan analysts predict 2.42-pct economic growth in 2018
MONTEVIDEO, June 23, 2018 (BSS/Xinhua) – Uruguayan analysts estimated that
the country’s economy would expand 2.42 percent in 2018, according to a
report released by the Central Bank on Friday.
After consulting economists and financial officials, the report includes a
pessimistic suggestion of a 2.30-percent rise in gross domestic product,
while the most optimistic forecast is a 3-percent rise.
The administration of President Tabare Vazquez is hoping for a 2.50-
percent economic growth for 2018. If the target is hit, the country will mark
the 16th year of consecutive growth.
In the first three months of this year, Uruguay’s GDP increased 2.2
percent on a year-on-year basis and increased 1.1 percent compared with the
final trimester of 2017. Official sources say the growth was driven by
consumption and exports.
The Central Bank report also said that experts anticipate a fiscal deficit
of 3.50 percent for the 2018 financial year, after the country finished 2017
in the red at 3.5 percent.
Experts also predicted an accumulated inflation of 7.50 percent for 2018
and an inflation of 0.68 percent for June.
With the end of May, the inflation rate of 2018 sits currently at 7.21
percent, just above the official goal range of 3 to 7 percent.
BSS/XINHUA/HR1442