In a Land of Red Ink, Uruguay Capital Sees Budget Surpluses
- Montevideo governor Martinez aims for 3rd consecutive surplus
- Martinez leads polls to be party’s next presidential candidate
Montevideo, Uruguay.
Photographer: Marcos Issa/Bloomberg
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Uruguay’s capital Montevideo aims to post a 5 percent budget surplus this year in a country where large deficits are the norm, Governor Daniel Martinez.
“The first thing I did in the province was say ‘enough deficits, tighten the belt, put finances in order,’” Martinez, who runs the district that is home to the capital, said in an interview Monday at Bloomberg’s headquarters in New York. Last year, Montevideo reported a surplus of 777 million pesos ($25 million), or 4.1 percent of revenue.