Uruguay raises basic rate to 9.25%: “inflation the key risk of the economy”

Saturday, December 29th 2012 - 04:07 UTC

Full article 3 comments

Uruguay’s Central bank raised its benchmark interest rate on Friday for the second time this year as policy makers struggle to bring inflation into the government’s target range. The IMF and local economists have warned about the need to “tackle inflation”, particularly since the budget’s fiscal deficit has soared in just twelve months from 0.4% of GDP to over 3% of GDP. Read full article

Comments

Disclaimer & comment rules

ChrisR
“particularly since the budget’s fiscal deficit has soared in just twelve months from 0.4% of GDP to over 3% of GDP.”

SEVEN AND A HALF TIMES OUTSIDE THE RANGE!

And who drives the fiscal drag by spending AND WASTING the money that they are entrusted with: THE GOVERNMENT FFS!

Pluna fiasco, UTE out of control, all the other cock-ups by Pepe's government.

Some people did not believe me when I suggested a 50% cut in government employees, retraining them for PRODUCTIVE use in industry is the only way forward.

I remain convinced that the finance department (what a joke) have little or no systemic reporting mechanisms outside of the government departments. In other words they rely on the data from those departments for their figures. Anybody see the train wreck coming yet?
Dec 29th, 2012 - 12:02 pm - Link - Report abuse 0
-+
British_Kirchnerist
#1 Sounds like a lot less than our deficit still. And despite the hysteria from the Tories about our deficit, it itself is a lot less than it was straight after World War 2, when we went on to build the NHS, the welfare state, nationalised industries etc...
Dec 30th, 2012 - 01:04 am - Link - Report abuse 0
-+
ChrisR
@2

And your idol, “the pound in your pocket is just the same, Wilson” when he had carried out the biggest ever devaluation managed to well and truly fuck the economy ala the Cunt Brown, another useless no-brained Scottish bastard like yourself.

Why is it when the Conservatives have brought us back to stability the ungrateful electorate (the swinging voter) vote in a Labour bunch who proceed to wreck it again?

If you and your mates had ever really worked for a living and made something of themselves you would not be a commie either. YOU would really want to hold on to the money you had earned: fair enough I say.
Dec 30th, 2012 - 10:42 am - Link - Report abuse 0
-+

Commenting for this story is now closed.
If you have a Facebook account, become a fan and comment on our Facebook Page!