Uruguayan experts in October raised their growth forecast for the local economy to 5.15 percent in 2022 from 5.0 percent the previous month.
This is according to the average expectations survey published today by the Central Bank of Uruguay (BCU).
The survey polls of economists and financial sector institutions showed a 4.67 percent increase in the gross domestic product (GDP) as the most pessimistic response and a 5.90 percent increase as the most optimistic.
Uruguay’s economy grew 7.7 percent in the second quarter of the year compared to the same period in 2021, helped by soybean exports and the normalization of sanitary conditions related to the new coronavirus pandemic, the BCU reported in September.
The government of President Luis Lacalle Pou maintains its annual GDP growth forecast of 4.8%.
On the other hand, analysts forecast inflation of 9.00 percent in 2022 and 0.45 percent in October, according to the BCU survey average.
Inflation cumulates a 9.95 percent increase in the mobile year ending in September, above the official target range (3-7 percent).