Brazil & Southern Cone - April 2015 (ISSN 1741-4431)

President Vázquez claimed on 8 April that it was “very clear” that the economy is decelerating but that Uruguay would still grow by between 2.5% and 3% in 2015. He added that there was no need to be “alarmed”, merely “attentive”. Having said that, Vázquez proceeded to paint a bleak picture of the global economy with respect to all of Uruguay’s main trading partners: “Brazil is in recession, like Argentina, which is unstable… the US has not recovered with the intensity and speed we hoped; Russia has problems; the European Union, let’s not even go there… China’s growth is down and Venezuela is a big buyer of Uruguayan dairy produce.”

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