URUGUAY |
Highest fiscal deficit in 27 years. Uruguay’s fiscal deficit reached 4% of GDP in 2016, according to the economy & finance ministry (MEF). This is an increase of 3.6% on the fiscal deficit recorded in 2015 and the highest deficit posted by Uruguay in 27 years. The government led by President Tabaré Vázquez had predicted a difficult year for public finances and forecast a deficit of 4.3% of GDP. But the growing fiscal deficit fans opposition concerns that the leftist ruling Frente Amplio (FA) coalition government is unable to contain public spending and shore up Uruguay’s finances.
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