BackFavorable outlook for Uruguay continues

Favorable outlook for Uruguay continues

According to Standard & Poor’s, Uruguay has demonstrated its resilience despite difficult economic conditions. The stability and gradual strengthening of Uruguay’s economy will support income levels in the country, as will its tax base, the flexibility of its fiscal and monetary policies, and its capacity to absorb debt.

Uruguay has experienced steady growth for the past 14 years. In 2016, the country’s GDP expanded by 1.5% and it is estimated that from 2017 to 2020 per capita GDP will stand at around US$19,300, representing an average real growth rate of 2% during that period.

The economic outlook for 2017 and 2018 is favorable due to the continuity of fiscal consolidation measures as well as the confirmation of sovereign ratings of BBB and A-2 for foreign and local currency.