MONTEVIDEO – President Tabare Vazquez said in an address on national radio and television that his administration’s two main goals in 2016 were to keep Uruguay’s credit rating stable and contain inflation.
On the first anniversary of his second term, Vazquez said Tuesday that “it has been a difficult year” and despite everything, Uruguay “kept its course.”
Vazquez said that among his goals was keeping the credit rating stable, saying it was “the most important intangible financial asset that Uruguay has.”
The president also vowed to “fight inflation head-on and without truce” after consumer prices rose 9.44 percent in 2015, a situation he described as “a heavy burden on people with fixed incomes and low incomes.”
Vazquez said his administration would maintain investment in social programs, but public spending would be cut in low-priority areas.