Oil Prices Weigh On C/A Deficit

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).

To read the full article, please choose one of the following options: