Uruguay: Staff Report for the 2014 Article IV Consultation

March 26, 2015

Preview Citation

Format: Chicago

Uruguay: Staff Report for the 2014 Article IV Consultation, (USA: International Monetary Fund, 2015) accessed November 23, 2024

Summary

This 2014 Article IV Consultation highlights that the Uruguayan economy continues to decelerate gradually. Real GDP growth is estimated to have softened to a still robust 3.25 percent in 2014 from 4.5 percent in 2013, mostly reflecting the moderation in domestic demand growth amid a less favorable external environment. Weak economic conditions abroad have continued to weigh on Uruguay’s current account, particularly on the services side. Economic activity is projected to decelerate further but remain solid. The pass-through of lower global oil prices to end-user prices will be gradual, as part of the windfall from lower oil prices will initially be used to shore up the operating balance of the state-owned petroleum enterprise.

Subject: Currencies, Economic sectors, Expenditure, Fiscal policy, Fiscal stance, Inflation, Prices, Public debt, Public sector

Keywords: Above-target inflation, Board of executive directors, Carbon study, Central bank, Consumer price inflation, CR, Exchange rate, Financial asset, Fiscal stance, Foreign currency, Global, Impact mitigating investment Project financing, Inflation, ISCR, Monetary policy stance, Nonfinancial product, Public sector, Uruguay, Uruguayan peso

Publication Details

Pages:

67
Volume:

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DOI:

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Issue:

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Series:

Country Report No. 2015/081
Stock No:

1URYEA2015001
ISBN:

9781475531671
ISSN:

1934-7685

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