The International Monetary Fund suggested the incoming government, to restrict the growth of public expenditure, in order to return to "more ambitious" tax targets in the next year budget.
The multilateral agency said, by 2010 the fiscal deficit should return to 1% of Gross Domestic Product, which last year was of 2.1%, and from 2011 onwards, should be of 0.4%. This situation implies a primary surplus, before debt payments, of 2.3% of GDP.
Moreover, the IMF said that "Uruguayan peso has appreciated since 2003, there is no evidence of competitive problems" or a "potential misalignment" of real exchange rate. These findings, published recently, are contained in a report by the IMF staff that visited Uruguay last September.

(www.elpais.com.uy and www.espectador.com, 22 February 2010)