Uruguay’s official economic growth forecast is 3.8% for 2022

RIO DE JANEIRO, BRAZIL – The Uruguayan government expects economic growth to reach 3.8% in 2022, according to Economy and Finance Minister Azucena Arbeleche during the presentation of the South American country’s macroeconomic situation.

The head of the economic department explained that the government of Luis Lacalle Pou estimates a “growth of 3.8% at that time” and that in connection with these figures, “about 40,000 jobs will be created.”

Arbeleche also analyzed the estimate for the budget deficit of 3.1%, as the government will maintain for another year the so-called Coronavirus Fund, a program developed after the declaration of the health emergency to combat the economic and social impact of the Covid 19 pandemic.

The minister announced that the amount of said fund for the current year would be around US$400 million, compared to the US$1.153 billion spent in 2021, which will mean substantial savings.

“I want to reiterate that this year we will continue our economic policies, focusing on employment and always with support to protect the weaker sectors,” Arbeleche said.

The Economic and Finance Minister, who is part of the team that will accompany President Lacalle Pou to celebrate Uruguay’s National Day on Monday, May 21, at the Dubai Expo, stressed the “international presence” that the South American country is seeking for its exports.

“The pillar we will present when we go to Expo Dubai next Friday will be an economic boost with an environmental agenda to attract investors and find bigger buyers for our products,” he said.

The Minister of Economy and Finance appeared accompanied by part of her work team, composed of Secretary of State Alejandro Irastorza, Director of Economic Policy Marcela Bensión, and Director of Public Finance Fernando Blanco.

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