Uruguay raises 2010 growth target to 6.5 percent

MONTEVIDEO, Aug 31 (BestGrowthStock) – Uruguay’s government has
raised its forecast for 2010 growth to 6.5 percent from a
previous outlook for expansion of 5.1 percent, the budget bill
presented to Congress showed on Tuesday.

The government of the small ranching nation expects gross
domestic product (GDP) to grow by 4.5 percent in 2011, up from
a previous estimate of 4.2 percent.

Inflation is seen at 6.6 percent this year, slowing
slightly to 6.0 percent next year.

The South American country’s economy has grown every year
since 2003, when it emerged from a four-year recession.

Economic growth hit 2.9 percent in 2009, marking a seventh
straight year of expansion, helped by agricultural exports and
power generation despite the global recession. That beat the
official target of 2 percent. [ID:nN24169483]
(Reporting by Conrado Hornos, Writing by Helen Popper)
([email protected]; +54 11 4318 0655; Reuters
Messaging: [email protected]))

Uruguay raises 2010 growth target to 6.5 percent