LatinNews Regional Monitor: Brazil & Southern Cone - 18 October 2018

* A survey conducted by Focus Economics, an economic consultancy firm, found that the consensus view among economists is that Uruguay's GDP will grow by 2.2% this year, down from 2.7% previously. This new GDP growth projection is now lower than the Uruguayan government’s official growth forecast of 2.5%. According to a report that accompanies the survey, the reason for the downwards revision is the lower level of economic activity in Argentina and Brazil, Uruguay’s closest trading partners in the region. The economists surveyed by Focus Economics also increased their Uruguay fiscal deficit forecast for this year for the fourth consecutive month. The consensus view is that Uruguay will post a deficit of 3.7% of GDP this year up from 3.4% previously. This means that the general view among economists is that the Uruguayan government will not meet its target of reducing the deficit to 3.2% of GDP this year.

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