Uruguay: State of the art dairy farm in Uruguay with 8.000 milking cows and self generating power

Uruguay Progressive reforms and high quality exports spearhead growth

2015/09/28 Buoyed by high levels of investment and sound economic policies, Uruguay’s impressive growth has been led by a strong focus on export-driven development. While innovation and sustainability have enhanced the country’s reputation for quality produce, the increase in trade is also seeing significant development to its ports   Uruguay is currently reaping the benefits of a decade of political and social stability led by the Frente Amplio Coalition, which won re-election last October with former president Tabaré Vázquez returning to lead the government for another five-year mandate after a run-off ballot in November. Since assuming power in 2004, the Frente Amplio has made great strides in terms of the economy, social development, and infrastructure. Uruguay was largely unaffected by the global economic crisis of 2008-09, buoyed by the country’s high levels of foreign direct investment, sound macro-economic policies, and tight control on debt levels, coupled with increased social spending. Inflation remains an issue but the IMF forecasts a decrease to 8.3% in 2015 – Uruguay and the IMF have set inflation targets that the government has prioritized – while the deficit-to-GDP ratio is expected to remain at 6.5% this year and unemployment is relatively low at around 7.4%.