1/2/2017 – Budget deficit at 4% of GDP


Uruguay finished the year 2016 with a budget deficit of 63.8 billion pesos (roughly 2.3 billion USD). According to the Central Bank in Montevideo, the deficit amounts to 4% of gross domestic product (GDP), which is higher than the deficit of 3.6% in 2015 (52.2 billion pesos) and similar to 2002, when Uruguay faced the biggest economic and financial crisis in its history.