{
  "title": "Uruguay: 2017 Article IV Consultation-Press Release; Staff Report; and Statement by the Executive Director for Uruguay",
  "publication": "IMF Staff Country Reports, January 31, 2018",
  "sourceUrl": "https://www.imf.org/en/publications/cr/issues/2018/01/31/uruguay-2017-article-iv-consultation-press-release-staff-report-and-statement-by-the-45598",
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  "summary": "This 2017 Article IV Consultation highlights that the fiscal adjustment in Uruguay is on track. Fiscal policy has been countercyclical in 2017, with higher income tax receipts partly offset by rising pension and health care costs. The overall deficit is estimated to decline to 3.",
  "sections": [
    {
      "heading": "Fiscal policy and public finances",
      "content": "- Fiscal adjustment in Uruguay is on track.\n- Fiscal policy was countercyclical in 2017.\n- Higher income tax receipts partly offset rising pension and health care costs.\n- The overall deficit is estimated to decline to 3.3 percent of GDP."
    },
    {
      "heading": "Financial markets, exchange rates, and capital flows",
      "content": "- The government continues to be able to access international financial markets on favorable terms, including through global nominal-peso bonds.\n- Financial flows have remained volatile.\n- Local and nonresident investor interest in the peso has been strong overall."
    },
    {
      "heading": "External sector and current account",
      "content": "- The current account balance has been improving.\n- The current account is now in surplus, estimated to approach 2 percent of GDP in 2017.\n\n---\n\n Content in this bundle\n\n- Country Report\n  - Country Report (Markdown version){rel=\"alternate\" type=\"text/markdown\"}\n  - Country Report (PDF){rel=\"external\" type=\"application/pdf\"}"
    }
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    "Published: January 31, 2018",
    "Series: IMF Staff Country Reports",
    "DOI: https://doi.org/10.5089/9781484338322.002",
    "Fiscal adjustment in Uruguay is on track.",
    "Fiscal policy was countercyclical in 2017.",
    "Higher income tax receipts partly offset rising pension and health care costs.",
    "The overall deficit is estimated to decline to 3.3 percent of GDP.",
    "The government continues to be able to access international financial markets on favorable terms, including through global nominal-peso bonds.",
    "Financial flows have remained volatile.",
    "Local and nonresident investor interest in the peso has been strong overall.",
    "The current account balance has been improving.",
    "The current account is now in surplus, estimated to approach 2 percent of GDP in 2017.",
    "**Country Report**"
  ],
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