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Analysis by Region - Emerging Markets - Uruguay

Publisher Oxford Economics
Published Mar 31, 2023
Length 6 Pages
SKU # OFE17888482

Description

Analysis by Region - Emerging Markets - Uruguay

We've cut our Uruguay 2023 GDP forecast to 0.7% from 1.8%, mainly due to carryover from the sharp contraction at the end of last year. Hurt by the ongoing drought, primary activity plunged to -21.5% y/y in Q4 2022, tipping the economy into a technical recession. GDP expanded by 4.9% in 2022, undershooting our latest forecast by 0.4ppts. In the short term, risks are tilted to the downside as food commodity prices cool, global trade slows, and policy tightening feeds through to the domestic economy.

Table of Contents

6 Pages
Uruguay: Drought triggered recession and will hurt Growth this year
Forecast overview
Recent developments
Short-term outlook
Key drivers of our Short-term Forecast
Economic risk
Economic risk evaluation
Background
Economic development
Structure of the economy
politics

Pricing

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