MercoPress. South Atlantic News Agency
Uruguay's economy expands 3.7% during the second quarter over a year ago
The performance of power, gas and drinking water had a sound effect for the economy Confirming ten years of sustained expansion the Uruguayan economy advanced 2% in the second quarter over the first quarter and 3.7% over the same period a year ago, according to the latest reports from the Central bank.
The National Accounts second quarter report released by the bank on Monday said that the expansion was based mainly on the “positive performance of the services sector, transport and communications, as well as other utilities such as power, gas and drinking water”.
Abundant rain fall played a crucial role since most of Uruguay's electricity is hydro generated and the dams were recovering from several seasons of insufficient water supply.
With the exception of construction, which had a negative performance, all other sectors of the Uruguayan economy expanded during the second quarter compared to 2013.
The report also points out that exports during the period, increased 8.1% in volume on an annual basis while imports increased at a 2.4% rate.
However in the first three months of the year the Uruguayan economy reported a drop of 0.4%, compared to Jan/March 2013.
Last year the Uruguayan economy expanded 4.4% above the government target and other estimates such as the IMF and World Bank, pointed out the central bank.
This in money terms means the Uruguayan GDP now stands at the equivalent of 49.7 billion dollars.
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Read all comments“The performance of power, gas and drinking water had a sound effect for the economy”
Sep 16th, 2014 - 10:56 pm 0Only if you overlook the fact it is a government monopoly mismanaged with vigour by a bunch of nonentities. They don’t earn a pesos in real terms you plonkers.
“No Money Pepe” unilaterally raised all of ANCAP’s prices by 10% in January without consulting anyone or informing the guy who ‘runs’ ANCAP. Then he wondered why EVERYTHING went up by 10% or more, probably overlooking that everybody and everything bought by everybody has to use road transport.
If we are doing so well, why has the UYU Pesos depreciated by 6.44% in the last month alone? Why is the government’s figure for inflation a complete lie and less than 60% of the real figure for the ordinary working class?
And why has construction crashed? Because Arse Licker’s boss TMBOA has fucked their economy so badly and imposed such draconian measures on the dollar (which the murdering commie bastard signed into law the “you tell us where these argies have the money in Uruguay or else”) that nothing from investing argies has come through. There are at least 2,500 building workers laid off in PdelEste alone since last year.
The ONLY thing this ex Tupas (are they ever ex?) and his dead-headed placemen have done since he came to power is to fuck the economy big-time. It amazes me that the rating agencies haven’t spotted the problems yet.
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