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3 For 2021, the government is targeting an improvement in the fiscal balance... Even accounting for additional fiscal measures to cope with COVID-19, the government aims to shore up underlying public finances in 2021 to contribute to stabilize debt burden Central Government Fiscal Balance (1) (In % of GDP) 2016 2017 2018 2019 2020 Jun-2021* -1 -3 -4.0 -5 Interest payments Primary Balance Overall Balance -7 (*) Last 12 months. (1) Does not Include extraordinary inflows to the Social Security Trust Fund. Source: Central Bank of Uruguay; Ministry of Economy and Finance of Uruguay -5.8 -4.9 Central Government deficit for 2021 is currently projected at 4.9% of GDP, given an assumed real growth of 3.5%. GDP 23

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