Monetary Policy Framework Enhancement
2
Leading economic indicators suggest that an economic
recovery is underway, with a positive impact on fiscal
revenues
Gasoline Demand (1)
(Rolling 7-day average, YoY change, in %)
164
50
10
Manufacturing Production (2)
(YoY real change, in %)
Peak
30
20
20
10
O
12.2
-10
-30
-20
-70
-30
Jan-20
May-20
Sep-20
Jan-21
Jun-21 Sep-21
Jan-19
Sep-19
May-20
Jan-21
Sep-21
Investment in Machinery and Equipment (3)
(Index, in physical volume, base 100 = Jun-17)
140
120
100
80
Sep-17
Sep-18
Tax Revenue Collection (4)
(YoY real change, in %)
133
20
10
O
-10
6.4
ساب
Sep-19
Sep-20
Sep-21
-20
Jan-20
May-20
Sep-20 Jan-21
May-21
Sep-21
(1) Source: Ministry of Economy and Finance.
(2) Source: National Statistics Institute
(3) Source: Chamber of Industries of Uruguay
(4) Source: Tax General Directorate, Ministry of Economy and FinanceView entire presentation