The Uruguayan construction industry faces tough years ahead because of the international crisis and its effects on neighbouring Argentina, forecasted economist Jorge Caumont who is also an advisor of several real estate agents.
A plan by Uruguayan president Jose Mujica to turn the government into the nation's marijuana dealer has been presented to Congress. The aim of the proposed bill is to take over an illegal marijuana trafficking business estimated to be worth 30 to 40 million dollars annually.
Brazil is the only country that in the last ten years has benefited from Mercosur with an intra-zone trade surplus of 36.8 billion dollars while the other three full members, Argentina, Uruguay and Paraguay have accumulated huge deficits in the same period, according to Argentine economist Orlando Ferreres a regular columnist from La Nacion with graduate studies in Harvard.
The Uruguayan government said on Monday there will be no public statements on the latest “situations” with Argentina, and Uruguay will keep to what was agreed at presidential level during the last (31 July) Mercosur extraordinary meeting in Brasilia.
Uruguay’s government-financed national university came up in position 79 in the QS academic quality international ranking of the top 100 Latinamerican universities. Brazil, Chile, Mexico, Argentina, Colombia were far better ranked than Uruguay’s Universidad de la Republica, Udelar, which has caused deep concern among government officials.
Former president Jorge Batlle (2000/2005) said that the inclusion of Venezuela in Mercosur “is favourable for Uruguay” but at the same time insisted it was “wrongly done” for not having taken into account Paraguay’s opposition currently suspended as member of the regional block.
Chile is expecting an increase of 30% in the number of cruise vessels calls this coming season with Puerto Montt and Punta Arenas receiving the most, said the country’s Under Secretary for Tourism Jacqueline Plass.
Under the heading of “In by the back door” referred to the expansion of Mercosur, The Economist says “bringing Venezuela certainly was smart, in the sense of cunning rather than wise”, but it was done ignoring the block’s rules which call for unanimity in admitting new members.
An international controversy has surfaced between President Hugo Chavez and Paraguayan senators as to who really tried to bribe whom regarding failed attempts to have Venezuela incorporated to Mercosur.
Uruguay’s annual consumer-price inflation dropped in July to 0.27% the lowest in 58 years, accumulating 7.48% in the last twelve months (down from 8% in June), and 4.41% in the first seven months of 2012.