2016 all dating site in uruguay
Since 2005, the left-wing coalition “Frente Amplio (FA)” has governed the country, after more than 170 years of rule by the two main political parties (Partido Blanco and Partido Colorado).Currently Tabaré Vázquez is President, after a decisive election victory in 2014.Therefore, commitment to fiscal consolidation will be important for ensuring fiscal sustainability.Historically, public debt has declined sharply from almost 100% of GDP in 2003 to around 66% of GDP at the end of 2017.His party, FA, holds a majority in both houses of Congress.It is not the first time that Vázquez has run the country: he also held the post between 20 before being succeeded by his party colleague José Mujica (Uruguayan presidents do not serve consecutive terms).Economic and political turmoil, in particular left-wing urban guerrilla attacks in the early 1970s, led the government to suspend the constitution and launch a period of repressive military rule.However, since the restoration of democratic rule in 1985, the country has once again been living up to its reputation and is broadly stable.
In recent years the fiscal deficit has been increasing and it peaked in 2016 at roughly -4% of GDP, which is still a moderate level.The improving growth prospects and current-account balance and higher credit availability in combination with moderate inflation have led Credendo to place Uruguay in the lowest risk category for systemic commercial risk (A on a risk scale from A to C).The overall outlook is stable but nevertheless remains vulnerable to external shocks given the country’s high economic openness.That being said, in the past 5 years public debt has been increasing due to the widening fiscal deficits.Under the prospect of narrowing fiscal deficits in the coming years, public debt is forecast to remain stable at about 65% of GDP.
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Since 2012 Uruguay has been in category 3/7 for the short term due to its vast amount of foreign-exchange reserves mitigating the risk of an elevated level of external short-term debt.