The report of the National Accounts of the Central Bank of Uruguay (BCU) marked an increase of 8.3% in the first quarter of 2022, compared to the first three months of the previous year. This percentage increase is a good result, in which activities such as health, education, real estate and other services stand out, revealed the head of the institution, Diego Labat, to the Presidential Communication.
Labat indicated that both domestic and foreign demand showed good performance. The internal one was driven by final consumption, which grew more than 6% in the first quarter of the year, while the external one marked a good performance of exports and of almost all sectors of activity, he explained.
According to the chief, the results were within the projections and a favorable first quarter was expected in 2022, compared to a summer of 2021 “which had been complex”. “This year it was consolidated and we have had a good result,” he said.
In the seasonally adjusted data, growth in the first quarter of this year was 0.6% more than in the last quarter of 2021. “We continue to see good short-term indicators that continue to show good trends. This will allow the Ministry of Economy and Finance and private analysts to recalculate growth so that this trend is consolidated”, he specified.
He added that exports were an important engine, with an increase of 23.5%. “There are pending tasks, but the country has an agenda of actions and reforms that are being processed and that are those of the long-term growth of the country,” he said.
