Oil Prices Weigh On C/A Deficit

June 2008 | Economic Analysis

We are revising up our forecast for Uruguay's current account deficit to 1.3% of GDP this year (from a previous estimate of 0.6%) on the back of spiking import growth. Soaring oil prices have widened Uruguay's year-to-date trade deficit to US$867mn (up from US$277mn a year earlier).

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