Investor Presentaiton
3
Fiscal targets met in 2020 on the back of disciplined
policies and new fiscal framework....
The government honored its pledge to rationalize fiscal accounts by restraining discretionary
expenditure, while allocating resources to contain Covid-19 impact on households and firms
Central Government Fiscal Balance (1)
(In % of GDP))
-1
-3
2016
2017
2018
2019
2020
-5
Primary Balance
Interest payments
Overall Balance
-7
(1) Does not Include extraordinary inflows to the Social Security Trust Fund.
Source: Central Bank of Uruguay; Ministry of Economy and Finance of Uruguay
-4.0
-5.8
The Government met the
2020 target set in the
Budget Law, even
accounting for the re-
basing of GDP (using
previous national
accounts estimates, which
implies a lower nominal
GDP, the fiscal balance
observed would have
been -6.3% of GDP, and
the fiscal target was set at
-6.6%).
21View entire presentation