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LatinNews Daily - 18 May 2020

In brief: Reducing fiscal deficit no longer top priority in Uruguay

* Uruguay’s President Luis Alberto Lacalle Pou has said that reducing the country’s fiscal deficit is no longer his government’s top priority and has been relegated to a secondary objective amid the economic crisis produced by the coronavirus (Covid-19) pandemic. Reducing Uruguay’s steadily rising fiscal deficit was one of the main promises made by Lacalle Pou in last year’s electoral campaign. But Lacalle Pou, who assumed office in March, has recognised that the economic crisis means that his administration will now be more focused on protecting jobs and stimulating domestic economic activity rather than cutting the deficit. Speaking in a 17 May televised interview, Lacalle Pou said that “The pledge to save US$900m is no longer a priority, and obviously neither is reducing the fiscal deficit this year”. Lacalle Pou added that the crisis will drive up unemployment in Uruguay but said that he hoped that the US$2.5bn economic rescue package presented by his government would help to mitigate this. 

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