Investor Presentaiton
2
Widening of primary fiscal deficit in the last quarter of 2022 was
mostly explained by increase in public investment spending,
and cyclically softer tax revenues.
Central Government's primary balance (1)
(Last 12 months, in % of GDP)
Central Government's revenues and primary expenditures (1)
(Last 12 months, in % of GDP)
2
1
-1
-2
-3
-4
Covid-19 Fund Balance
Primary Balance exlcuding Covid-19 Fund
Primary Balance
0.5
0.6
-0,9
31
29
20
22
27
-Revenues
Primary Expenditures
26,9
26
-5
25
Mar-19 Dec-19
Sep-20
Jun-21
Mar-22 Dec-22*
Dec-18
Oct-19
Aug-20
Jun-21
Apr-22 Dec-22*
(1) Source: Ministry of Economy and Finance of Uruguay. Does not Include extraordinary inflows to the Social Security Trust Fund.
(*) Based on GDP projection for 2022.
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