RIO DE JANEIRO, BRAZIL – Uruguay “did its homework well” in economic terms compared to other regional countries, which led the Economic Commission for Latin America and the Caribbean (ECLAC) – a United Nations (UN) agency – to estimate that the country will grow by 3.9% in 2021 and 3.1% in 2022.
According to the latest growth projections published by ECLAC-UN, Latin America will grow by 2.1% in 2022 after having reached an average of 6.2% in 2020.
In the case of Uruguay, the country ranked 4th in South America with the best growth estimate (3.1%), preceded only by Paraguay (3.8%), Colombia (3.7%) and Bolivia (3.2%). Conversely, the region’s main economies will perform poorly. Such is the case of Brazil, with an estimated growth of 0.5% for 2022, Argentina (2.2%) and Mexico (2.9%).
ECLAC’s growth projections for Uruguay in 2021 “have always been optimistic, close to 4%” and “well above market estimates” (between 2.7% and 3.4%).