Punta del Este, Uruguay’s main sea resort on the Atlantic coast received last week on a single day an estimated 12.000 visitors from cruise vessels, challenging transport resources but with singular success given the excellent weather conditions and food and leisure facilities in the city.
Uruguay’s 2009 fiscal budget deficit soared to its highest since 2003 pushed by higher power generation costs and the import of dearer energy according to the official release from the Ministry of Finance. The total is equivalent to 2.1% of GDP and 50% higher than in 2008, which was 1.4% of GDP.
Uruguay’ competitiveness eroded 10.2% during the twelve months of 2009, which represents the third consecutive annual loss. The data was extracted from Uruguay’s Central Bank Real Exchange Rate index (TCR) which measures variations with the country’s main trade partners.
In 2008 TCR lost 7.4% and the previous year, 7%.
A major Brazilian dairy corporation, Laticinios Bom Gosto will begin to build its affiliate in Uruguay next May to produce powder milk and butter mainly for the Brazilian market.
The head of Argentina’s powerful trade union confederation (CGT), teamster Hugo Moyano strongly denied Thursday that his union had plans to purchase a hotel in the Uruguayan posh sea side resort of Punta del Este.
Uruguay’s president-elect Jose Mujica said that the long standing conflict over the Botnia pulp mill, which has soured relations with neighbouring Argentina, will inevitably be solved but he will only be meeting with Argentine authorities and not with the pickets who are blocking bridges leading to Uruguay.
Uruguayan Vice-president elect Danilo Astori said that the institutional-financial “solidness” of the country makes it virtually “impossible” a repeat of the current confrontation between the Argentine government and the Central bank.
Uruguay had a very good tourist year in 2009 when the number of visitors climbed to 2.1 million and income reached 1.5 billion US dollars which is considered a record, according to Tourism Minister Hector Lescano.
Argentines disenchanted with their current government are taking their savings to refuge in neighbouring Uruguay where deposits of non residents have soared 20% during 2009, according to primary estimates from the Central Bank.
Spain’s research vessel “Miguel Oliver” set off from Montevideo for a joint scientific cruise with Uruguayan experts with the purpose of surveying Uruguay’s Exclusive Economic Zone, EEZ. The research includes chartering the area and surveying ocean conditions in the sea bed.