Government net lending/borrowing in Uruguay

International Monetary Fund · Annual · Importance

IMF forecast (WEO): 2026: -4.1% 2027: -3.4% 2028: -3.0% 2029: -2.3% 2030: -2.2% 2031: -2.1%

-2.8 (1999) ANUAL · % of GDP · Annual · CSV

Period	% of GDP
Jan 1999	-2.8

About this indicator

Source

International Monetary Fund

Frequency

Annual

Release

Published annually (with quarterly advance estimates in some economies), subject to revision with the national accounts.

What it is

Government net lending or borrowing measures the balance of Uruguay's public sector accounts, recording a deficit when spending exceeds revenue and a surplus when it does not. It is usually expressed as a percentage of GDP.

How it's calculated

Calculated as the gap between public sector revenue and non-financial spending, using data from the Economy Ministry and the Central Bank of Uruguay alongside IMF estimates. The balance is expressed relative to GDP.

Market implications

The fiscal deficit is central to Uruguay's fiscal-responsibility anchor, its debt trajectory and rating assessments, with the country holding investment grade. A deterioration pressures financing costs and the Uruguayan peso.

Limitations

It is a low-frequency figure prone to revision. The headline balance should be set apart from the primary balance (excluding interest), and one-off items such as social-security transfers can distort year-on-year comparisons.