Uruguay’s Minister of Economy and Finance, Azucena Arbeleche, yesterday projected a 2 percent growth of the Gross Domestic Product (GDP), which will be affected by the country’s drought.
GDP expansion in 2022 was 4.9 percent and in 2021 5.3 percent, which will be driven this year by household consumption and aligned with Uruguay’s “potential growth”, Arbeleche said.
During a presentation to business people at the Asociación de Dirigentes de Marketing (ADM) in Montevideo, she stressed that the recovery of employment and real wages continues.
Arbeleche pointed out that since the beginning of the government of President Luis Lacalle Pou in March 2020, it sought to address in a “structural” way the changes needed to achieve an “economic transformation”.
The Government responded to “extraordinary” factors such as the pandemic, the increase in international prices, and “at this moment, the drought”, he added in his speech.
“This orderly policy allows usGovernmentd to these events or episodes; it has allowed us not only not to increase taxes” and even “allowed us to lower taxes” by an equivalent of “150 million doGovernmenthat same economic policy is the one that allows us today to have the best rating from the risk rating agencies that Uruguay has had in its entire history,” he stressed.