LatinNews Regional Monitor: Brazil & Southern Cone - 11 September 2019

* Uruguay’s Economy & Finance Minister Danilo Astori has unveiled a package of measures aimed at stimulating the domestic economy. The plan includes 14 different measures, including tax benefits, which cover, among other things: export promotion, the automobile industry, the food industry, border policies, productive chains, the logistics sector, global services, the audio-visual sector, the construction sector, benefits for non-resident tourists, new enterprise, and industrial parks. In July Astori said that he expected “modest” GDP growth of 0.6% in 2019 although he expected the growth rate to pick up in 2020 when the second UPM pulp mill in Pueblo Centenario, located in Durazno department, begins operations. The latest (July 2019) forecast from the United Nations Economic Commission for Latin America & the Caribbean (Eclac) for Uruguay is for just 0.3% GDP growth in 2019.

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