{
  "title": "Uruguay: Selected Issues",
  "publication": "IMF Staff Country Reports, February 21, 2020",
  "sourceUrl": "https://www.imf.org/en/publications/cr/issues/2020/02/20/uruguay-selected-issues-49066",
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  "summary": "This Selected Issues paper studies economic growth in Uruguay. Following the 2002 crisis, Uruguay had a remarkable economic recovery. The major growth acceleration in 2004–14 was explained by a combination of positive external factors, recovery from crisis, and emergence of new export sectors.",
  "sections": [
    {
      "heading": "Executive summary",
      "content": "- Studies economic growth in Uruguay.\n- Following the 2002 crisis, Uruguay had a remarkable economic recovery.\n- The major growth acceleration in 2004–14 was explained by a combination of positive external factors, recovery from crisis, and emergence of new export sectors.\n- With external factors no longer a support for growth, Uruguay needs to leverage its strengths to raise growth sustainably.\n- Uruguay’s high level of institutional quality and social cohesion provides a stable container for growth."
    },
    {
      "heading": "Drivers of growth in 2004–14",
      "content": "- Combination of positive external factors, recovery from crisis, and emergence of new export sectors explained the major growth acceleration in 2004–14.\n- New export industries played a central role in the recovery and acceleration."
    },
    {
      "heading": "Challenges and areas to enhance",
      "content": "- Comparison relative to trading partners and high growth peers identifies areas for improvement to unleash growth potential:\n  - A strong, flexible, and equitable labor market.\n  - Better education outcomes.\n  - Higher private sector dynamism.\n  - Continued macro stability."
    },
    {
      "heading": "Policy recommendations and priorities",
      "content": "- Structural policy reforms on key constraints to the private sector to:\n  - Realize the potential of the new export industries.\n  - Set the stage for inclusive growth.\n- Strengthen and maintain a strong and credible macro policy framework to ensure growth sustainability.\n- Specific macro objectives to support structural reforms:\n  - Reduce debt and keep it at low levels.\n  - Reduce inflation and keep it at low levels.\n  - Reduce dollarization and keep it at low levels.\n- Continue efforts that lay the foundations for structural reforms to flourish."
    },
    {
      "heading": "Key statistics and publication metadata",
      "content": "- Publication date: February 21, 2020\n- Pages: 46\n- Volume: 2020\n- Issue: 052\n- Series: Country Report No. 2020/052\n- DOI: https://doi.org/10.5089/9781513530864.002\n- Stock No: 1URYEA2020002\n- ISBN: 9781513530864\n- ISSN: 1934-7685\n- Subject tags: Expenditure, Exports, Infrastructure, International trade, Labor, National accounts, Public investment and public-private partnerships (PPP), Public investment spending, Unemployment\n- Keywords: Asia and Pacific, CR, Exports, Global, Infrastructure, infrastructure investment, ISCR, Labor indicator, labor market condition, Public investment and public-private partnerships (PPP), Public investment spending, text, Unemployment, wage council, youth unemployment, youth-to-adult unemployment gap\n\nInternational Monetary Fund. Uruguay: Selected Issues. IMF Staff Country Reports 2020, 052 (2020).\n\n---\n\n Content in this bundle\n\n- Uruguay: Selected Issues; IMF Country Report No. 20/52; January 28, 2020\n  - Uruguay: Selected Issues; IMF Country Report No. 20/52; January 28, 2020 (Markdown version){rel=\"alternate\" type=\"text/markdown\"}\n  - Uruguay: Selected Issues; IMF Country Report No. 20/52; January 28, 2020 (PDF){rel=\"external\" type=\"application/pdf\"}"
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    "Published: February 21, 2020",
    "Series: IMF Staff Country Reports",
    "DOI: https://doi.org/10.5089/9781513530864.002",
    "Studies economic growth in Uruguay.",
    "Following the 2002 crisis, Uruguay had a remarkable economic recovery.",
    "The major growth acceleration in 2004–14 was explained by a combination of positive external factors, recovery from crisis, and emergence of new export sectors.",
    "With external factors no longer a support for growth, Uruguay needs to leverage its strengths to raise growth sustainably.",
    "Uruguay’s high level of institutional quality and social cohesion provides a stable container for growth.",
    "Combination of positive external factors, recovery from crisis, and emergence of new export sectors explained the major growth acceleration in 2004–14.",
    "New export industries played a central role in the recovery and acceleration.",
    "Comparison relative to trading partners and high growth peers identifies areas for improvement to unleash growth potential:",
    "Structural policy reforms on key constraints to the private sector to:",
    "Strengthen and maintain a strong and credible macro policy framework to ensure growth sustainability.",
    "Specific macro objectives to support structural reforms:",
    "Continue efforts that lay the foundations for structural reforms to flourish.",
    "Publication date: February 21, 2020",
    "Pages: 46",
    "Volume: 2020",
    "Issue: 052",
    "Series: Country Report No. 2020/052",
    "DOI: https://doi.org/10.5089/9781513530864.002",
    "Stock No: 1URYEA2020002",
    "ISBN: 9781513530864",
    "ISSN: 1934-7685",
    "Subject tags: Expenditure, Exports, Infrastructure, International trade, Labor, National accounts, Public investment and public-private partnerships (PPP), Public investment spending, Unemployment",
    "Keywords: Asia and Pacific, CR, Exports, Global, Infrastructure, infrastructure investment, ISCR, Labor indicator, labor market condition, Public investment and public-private partnerships (PPP), Public investment spending, text, Unemployment, wage council, youth unemployment, youth-to-adult unemployment gap",
    "**Uruguay: Selected Issues; IMF Country Report No. 20/52; January 28, 2020**"
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