Back

Weekly Report - 20 March 2014 (WR-14-11)

URUGUAY: Bergara fights rear-guard action against inflation

The government of President José Mujica is taking urgent action to prevent inflation bursting through the psychological barrier of 10% and picking up uncontrollable momentum thereafter. The economy and finance minister, Mario Bergara, appeared before the senate finance commission to discuss the matter on 6 March after 12-month inflation in February hit 9.82%. After a subsequent meeting with the umbrella trade union Plenario Intersindical de Trabajadores-Convención Nacional de Trabajadores (Pit-Cnt), Bergara announced a series of reductions in value-added tax (VAT) designed to contain inflation.

End of preview - This article contains approximately 828 words.

Subscribers: Log in now to read the full article

Not a Subscriber?

Choose from one of the following options

LatinNews
Intelligence Research Ltd.
167-169 Great Portland Street,
5th floor,
London, W1W 5PF - UK
Phone : +44 (0) 203 695 2790
Contact
You may contact us via our online contact form
Copyright © 2022 Intelligence Research Ltd. All rights reserved.