Uruguay lowers growth estimate for 2014 to 3% of GDP; inflation still a challenge

Friday, February 21st 2014 - 08:05 UTC

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Uruguay's GDP this year is expected to expand by 3%, below the original estimate of 4%, according to Economy minister Mario Bergara currently in the United States on a tour to promote investments in the country and who was interviewed by Bloomberg. Read full article

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ChrisR
““We don’t export more beef, more soy, more rice because there’s not more to export. We have a very strong and firm domestic demand. That makes it more difficult to fight inflation”, Bergara told Bloomberg.”

So having price rises due to No Money Pepe having any money to balance the books while he still wastes it on his “Social Programme” to give money to those “poor” bastards who have NEVER worked to NOT work doesn’t affect anything?

And of course productivity in the private sector hasn’t kept up with the wage rises needed to get them back to work after the strike to force the government into agreeing just the figure that guarantees poor productivity. I fail to see WTF the government have to do with an employer agreeing a wage with his employees: UNLESS it’s the dastardly employers who WON’T pay an increase and we NEED the unions to bleat to the government about them! Ha, ha, ha. A FUBAR, just like it was in the UK before the Blessed Margaret castrated the fucking unions.

But no need to worry! Bergara officially WIDENED the inflation range so we can still miss it but by a smaller amount, brilliant.

Bergara also waffled that “The economy PROBABLY grew 4% last year and the 15% depreciation in the peso in the past year is in line with other emerging markets.”

So we will be as fucked as all the others in SA! BTW the pesos to the dollar is at the lowest value it has been for some time at 22.25 / 1 USD. So according to Buggeritupa we are in for more devaluation in 2014 if he wants 23.8 / 1 USD.

This twat is easily up there with his predecessor who had to resign over “Plunagate” but not before he went down in history when he praised UTE, the worst of the government owned monopolies for overcoming a self inflicted wound in the form of a massive deficit (due to the usual incompetence) BY “MANAGING” TO PUT THE PRICES UP, as if we had any fucking option!! And then he had no answer when asked why inflation was rising faster than the budgeted values. Dear, dear.
Feb 21st, 2014 - 05:37 pm - Link - Report abuse 0
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ilsen
http://www.youtube.com/watch?v=EFS6cP9auDc
Feb 22nd, 2014 - 03:33 am - Link - Report abuse 0
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