URUGUAY.
ECONOMIC SLOWDOWN.
Uruguay the third largest exporter of beef and soy from South America, admitted in Monday, that growth is going to slowdown, as a result of the global economic crisis.
Minster of Finance, Andres Masolier, said on his return from the summit in Brazil "the Uruguayan economy will continue to grow, but at a slower pace and we are in better conditions than other countries in the region, to face the global situation".
However when asked if the forecast for 2009 remained unchanged, he replied that it would depend on events in the coming two or three weeks.
The minister went on to say "we must first see how the crisis evolves and begins to impact on the economies of developed countries, once we have this picture clearer we can evaluate how this will reach or influence different sectors of the Uruguayan economy".
The government of Uruguay is currently enjoying a high approval rating.
