Uruguay’s Left Party Pledges Fiscal Surplus If It Wins Election
- Broad Front candidate might narrow CPI target range to 3%-5%
- Oddone says aim is fiscal surplus near 2% by end of Orsi term
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Uruguay’s leading presidential candidate Yamandu Orsi of the opposition Broad Front would aim to achieve a primary fiscal surplus by the end of his term and might narrow the country’s inflation target range if he wins the October election, according to his pick for finance chief, economist Gabriel Oddone.
In an interview, Oddone emphasized an Orsi government in the short term would maintain the current annual inflation target range of 3-6%, while keeping with the current administration’s fiscal rules. Over time, Oddone said he would seek to get Uruguay’s primary fiscal surplus close to 2% of gross domestic product toward the end of Orsi’s five-year term. He also would also weigh reducing the inflation target range to 3-5%.