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Economic Survey of Latin America and the Caribbean 1995-1996

image of Economic Survey of Latin America and the Caribbean 1995-1996

This publication gives insight into the economic trends, the international economy and the role of exchange rate policy in the region. It also explores the economic developments by country. Included also is a statistical annex on diskette.

English

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Uruguay

After four years of rapid growth, the Uruguayan economy contracted by 3% in 1995 as a result of the fiscal adjustment undertaken by the Administration that took office in March and the slump in demand from Argentina. The annual rate of inflation dropped to 35%, the lowest rate since 1982, and the fiscal and external deficits narrowed. As a consequence of the recession, open unemployment rose to almost 11% and real wages declined by 3%.

English

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