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Uruguay has a partially dollarized economy. As of August 2008 almost 60% of bank loans use United States dollars, [18] but most transactions use the Uruguayan peso. [19] Today, the Uruguayan peso is minted in coins of 1, 2, 5, 10, and 50 pesos and in banknotes of 20, 50, 100, 200, 500, 1000, and 2000 pesos.
Apr 3, 2024 · Overview. Uruguay stands out in Latin America for being an egalitarian society, for its high per capita income, and for its low levels of poverty and inequality. In relative terms, its middle class is the largest in the LAC region and represents more than 60 percent of its population. Following the 2002 crisis, sound macroeconomic management ...
Claimed by Argentina but annexed by Brazil in 1821, Uruguay declared its independence four years later and secured its freedom in 1828 after a three-year struggle. The administrations of President Jose BATLLE in the early 20th century launched widespread political, social, and economic reforms that established a statist tradition.
Uruguay's fiscal deficit averaged 3.2% of GDP in the decade to 2022. Find out more on our dedicated page. Unemployment: The unemployment rate averaged 8.0% in the decade to 2022. For more information on Uruguay's unemployment click here. Inflation: Inflation averaged 8.4% in the decade to 2022. Go to our Uruguay inflation page for extra insight.
Uruguay's economy will grow in 2024 as the end of a severe drought leads to a bumper harvest, which will lift agricultural exports and industrial production. Higher real salaries and a higher employment rate will also boost private consumption. Downside risks to our forecast include a sharper than expected economic contraction in Argentina and ...
Argentina initially claimed Uruguay, but Brazil annexed the country in 1821. Uruguay declared its independence in 1825 and secured its freedom in 1828 after a three-year struggle. Uruguay's political and labor conditions are among the freest on the continent.
Uruguay’s government welcomes foreign investment by individuals, the system for registering property ownership is solid, and property rights are enforced. Uruguay is a nice place to spend time. It’s a small food producing country, which offers a variety of pleasant lifestyle options that is out of the way of world conflict.
