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Montevideo, September 24th 2023 - 05:12 UTC



Uruguayan Central bank poll shows economy is expected to grow at slower pace

Monday, July 16th 2012 - 07:24 UTC
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Minister Lorenzo blamed trade restrictions in the region Minister Lorenzo blamed trade restrictions in the region

The Uruguayan economy is set to grow 3.57% in 2012 which is below the government’s forecast according to the latest analysts and businesspeople poll published last Friday by the central bank.

In June the forecast from a similar poll was 3.62% and in May, 4.06%. The eleven experts polled said, on average that the Uruguayan economy would expand 3.73% in 2013, which was also slightly below the 3.75% of the previous month.

The Uruguayan economy which has a strong foundation in agriculture, livestock, tourism and services expanded 4.2% in the first quarter of the year, following an annual expansion of 5.7% in 2011.

The Central bank estimates that the Uruguayan economy will be expanding at an average 4% during the next four years. Nevertheless Economy minister Fernando Lorenzo a few days back admitted that there were signs of a slowdown mainly because of trade restrictions in the region.

Unemployment in May was up 6.7% from 6.4% a year ago and 6% in April.

The experts on average estimate the Uruguayan economy will be expanding 3.5% in 2012 and 4% the following.

Categories: Economy, Uruguay.

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