LatinNews Daily - 22 February 2024

*Uruguay’s economy and finance minister Azucena Arbeleche has said that the government is forecasting that the country’s GDP will grow 3.5% this year, up from 0.5% GDP growth projected for 2023. She highlighted that the country’s economic activity was 3.6% higher than in 2019, the year prior to the coronavirus (Covid-19) pandemic. She also highlighted job creation, claiming that 37,000 people gained employment last year and a further 14,000 people were expected to join the job market this year. Arbeleche also said that exports of goods and services were up 4.5% on 2019 levels while total investment in public works (both public and private initiatives) increased 20% compared with 2019. She went on to highlight a drop in inflation, which closed 2023 at 5.1%, down from 8.3% in 2022. The government is forecasting that inflation will close this year at around 4.9%.