LatinNews Daily - 16 February 2023

In brief: Uruguay’s gov’t expects GDP growth to slow

*Uruguay’s economy and finance minister, Azucena Arbeleche, has said that Uruguay’s GDP is expected to grow by around 2% in 2023, down from 5% forecast for 2022 although she noted that there was still “great uncertainty” surrounding the final figures in the fourth quarter of 2022 due to the impact of drought in the country. Presenting a report on the country’s fiscal situation in 2022 and macroeconomic perspectives for 2023, Arbeleche said that the government expects that 12,000 jobs will be created in 2023 while inflation is expected to stand at 6.7% this year and the fiscal deficit, at 2.5% of GDP. She said that in 2022, annual inflation stood at 8.3% which is in line with government forecasts. Arbeleche also noted that exports had “reached record levels” and that Uruguay currently has “the highest credit rating in its history”.

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