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Economy & Business - May 2011 (ISSN 1741-7430)

URUGUAY: Growth upgraded

The economy minister, Eduardo Lorenzo, announced on 24 May that the government was revising its economic growth projections for the year from 4.5% to 6.5%, and increasing its fiscal deficit projection from 1.1% to 1.6%. Lorenzo explained that unforeseen increased spending by state companies due to drought and soaring fuel prices had altered its calculations.

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