Uruguay grows 4.8% and creates 40,000 new jobs by 2022, government says

RIO DE JANEIRO, BRAZIL – Uruguay’s government estimates that the economy will grow by 4.8% and create 40,000 new jobs by 2022. This is according to the draft accountability report that the executive branch will present to Parliament on Thursday.

The country’s economy and finance minister, Azucena Arbeleche, announced on Monday that the economy grew by 8% in the first quarter of this year compared to the same period last year.

“The economic team feels reassured in presenting today a new growth estimate of 4.8% for 2022, one percentage point higher than our estimate in February,” she told a press conference.

The minister explained that this growth is due to increased exports, industrial production, jobs, and crop yields.

“This increased economic activity will go hand in hand, and we expect to create nearly 40,000 jobs this year,” she said.

Regarding accountability, Arbeleche said the government had completed consolidating the Ministry of Interior’s “Education Transformation” and “Citizen Protection” projects.

“In short, the axes of this account that we present this Thursday in Parliament have a future with growth,” she concluded.

This Thursday, the executive branch will present to Parliament the bill, which will account for the budget executed in 2021 and address possible changes to the national budget.

On June 20, Lacalle Pou received parliamentarians from the ruling National Party at the presidential residence, with whom he discussed accountability, among other issues, in 2022.

After the meeting, Senator Jorge Gandidi told the press that the priorities would be education, public security, science, and technology, while the adjustment of civil service salaries was analyzed.

When asked about a possible tax cut, he replied, “The President always has this in mind; he has said it, he has informed Parliament.”

He was alluding to Lacalle Pou’s announcement to raise the lowest levels of income tax (IRPF) and social security tax (IASS).

“It is an accountability that will provide funds. The economic situation has allowed a better collection to be used for various items,” he concluded.

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