Investor Presentaiton
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Primary fiscal deficit has widened in 2023 - explained by an
increase in public infrastructure investment and cyclically softer
tax revenues.
Central Government's fiscal balance
(In % of GDP)
2017
2018
2019
2020
2021
2022
August 2023*
-5
Interest payments
Primary deficit
Overall deficit
-4.0
Central Government
overall deficit is
budgeted at 3.2% of
GDP in 2023, given
projected real GDP
growth of 1.3%.
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Source: Ministry of Economy and Finance of Uruguay and Central Bank of Uruguay, based on the Rendición de Cuentas 2022, submitted to Congress by end-June, 2023. Does not Include
extraordinary inflows to the Social Security Trust Fund.
(*) Last 12 months. Based on nominal GDP projection for the 12-month period ended August 2023.
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