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Uruguay concerned with Argentine economy growing misbalances

Wednesday, July 11th 2012 - 23:02 UTC
Full article 11 comments
Economy minister Lorenzo fearful of the impact on Uruguay Economy minister Lorenzo fearful of the impact on Uruguay

Uruguay’s Economy minister Fernando Lorenzo expressed concern about the deteriorating indicators from the Argentine economy which could have a negative impact on the country’s activity.

“Argentina is showing preoccupying misbalances” in its economy said Lorenzo who supported his statement with such indicators as consumers’ confidence, the monthly economic activity estimate, the evolution of the exchange rate, budget deficit and the current account situation.

Lorenzo said that Argentina presented the most complex scenario for Uruguay given that considerable slower economic activity index can be expected.

“Argentina has high inflation, policies growingly protectionist and a burgeoning budget fiscal deficit and for the first time in many years a current account deficit”, underlined Lorenzo, who recalled the close links with the Uruguayan economy both in goods, services and finance.

A “clearly deteriorating” scenario in neighbouring Argentina is a relevant piece of information for Uruguay which needs to be addressed with the most caution, underlined Lorenzo.

Categories: Argentina, Uruguay.

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  • KretinaK

    Typical day in Buenos Aires, leave my house and I get approached by guys trying to wash my car's windshield with a bottle of dirty water and a ratty sponge at every single one of the 3 traffic lights from my house to the entrance to the highway. Get off at the exit near the center, and again approached by some really dirty little kids banging my car windows with their fists asking for money. I drive up to the garage near my office where I park and there is a demonstration so I can't drive in, I park on a dirty side street and get out, get approached by a guy waving a rag saying he “watches the cars” and holds his hand out for money. I get to my office and there is a guy sitting on the sidewalk shaking a can asking for money. I get to my office exasperated at all of the begging start working and one of the admin assistants asks to speak to me, and her angry tone is evident from the beginning of the conversation. She begins to tell me how she found out her co-worker earns $700 pesos more per month and demands a raise! I tell her to speak to Human Resources. I go out to lunch to a pizzeria on Av. Corrientes, in 30 minutes I get asked by 2 people to buy them pizza and 2 others put some junk items on my table trying to sell me things. On the way home a repeat performance of the beggars, window washers, and assorted annoying traffic on the panamericana and the broken toll booths. Argentina is such a total dump of a country, the best thing that could happen is an invasion of ANY country, it's a total s**thole that needs to bee wiped clean and start all over again. 6 more months and I get transferred back home to Australia!! Hooray!!

    Jul 12th, 2012 - 04:09 am 0
  • mastershakejb

    amen kretina, i was just there a few months ago, and it's headed towards fully third world status. Makes Uruguay and Chile look like Luxembourg compared

    Jul 12th, 2012 - 08:55 am 0
  • Guzz

    Maybe you should stop crossdressing as Mother Teresa...

    Jul 12th, 2012 - 09:23 am 0
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