LatinNews Regional Monitor: Brazil & Southern Cone - 08 March 2018

Uruguay: The director of macroeconomic advisory at Uruguay’s economy & finance ministry (MEF), Christian Daude, has said that the government led by President Tabaré Vázquez is struggling to achieve the fiscal deficit target of 2.5% that it set for itself for the end of the current five-year term in 2020. Daude, who was appointed to his current post back in January following the resignation of his predecessor over disagreements with the Vázquez executive’s economic policies, said that the fiscal deficit target was set as a way to maintain Uruguay’s coveted investment rating. However, Daude said that the need for increased spending to shore up the domestic economy in recent years has led to the government missing its 3.3% fiscal deficit target last year, with the fiscal deficit coming it at 3.5%; and Daude said that in his opinion reaching the 2.5% target in 2020 is now “difficult”.

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