Content type

Uruguayan Growth To Rebound In 2024 After 2023 Slump

Country Risk / Uruguay / Wed 03 Jan, 2024

Key View

  • After recent data releases we are revising our 2023 growth estimate for Uruguay down to -0.4% but are expecting a strong growth rebound of 3.1% in 2024.
  • We anticipate that growth will be supported by recovering exports and private consumption following the worst drought in decades in 2023.
  • Risks to growth are few and mostly
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Drought To Exacerbate Growth Slowdown In Uruguay In 2023

Country Risk / Uruguay / Sun 09 Apr, 2023

Key View

  • We have revised down our forecast for growth in Uruguay in 2023 from 2.8% previously to 2.1%, as a severe drought affects production in the country's export-facing agricultural sector and drives up energy imports.
  • This will exacerbate existing headwinds facing the external sector amid weakening global demand and lower prices for
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Growth In Uruguay To Remain Resilient Amid Rising Headwinds

Country Risk / Uruguay / Tue 02 Aug, 2022

Key View

  • We at Fitch Solutions have raised our forecast for real GDP growth in Uruguay in 2022 from 3.3% to 3.8% following a strong growth print in Q122.
  • Resilient domestic demand will support a steady economic expansion over the coming quarters despite headwinds from elevated inflation and monetary tightening.
  • We also expect buoyant
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At Least One More Policy Rate Hike In Uruguay In 2022

Country Risk / Uruguay / Wed 04 May, 2022

Key View

  • We at Fitch Solution expect the Banco Central del Uruguay will hike its benchmark policy rate further in the coming months to 9.50%, after hiking by 125 basis points to 8.50% at its April meeting.
  • High global commodity prices and strong domestic demand will keep inflation elevated in the near term, before it eases more notably in
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