The former president, Tabare Vazquez, took office for a new five-year term on March 1st, and will pursue an agenda combining orthodox macroeconomic management with an emphasis on social development.
Moderate nominal depreciation is projected in 2015-19 as monetary tightening eventually resumes in the OECD, but the real effective exchange rate will still be almost 15% stronger in 2015-19 than its long-term average (1994-2013).
Although the current account will remain in substantial deficit throughout the forecast period, reflecting continuing trade and income imbalances, it will remain manageable, and will be covered by foreign direct investment inflows.

Highlights 7

Political outlook 8

Democracy index 9

Economic policy outlook 11

Economic forecast 12

Annual data and forecast 16

Quarterly data 17

Monthly data 18

Annual trends charts 20

Monthly trends charts 21

Comparative economic indicators 22

Basic data 23

Political structure 24

Politics 25

Economy 32

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