Uruguay
This paper studies the potential drivers of governments’ approval rates in 18 Latin American countries using Internet search query data from Google Trends and traditional data sources. It employs monthly panel data between January 2006 and December 2015. The analysis tests several specifications including traditional explanatory variables of governments’ approval rates – i.e. inflation, unemployment rate, GDP growth, output gap – and subjective explanatory variables – e.g. perception of corruption and insecurity. For the latter, it uses Internet search query data to proxy citizens’ main social concerns, which are expected to drive governments’ approval rates. The results show that the perception of corruption and insecurity, and complaints about public services have a statistically significant association with governments’ approval rates. This paper also discusses the potential of Internet search query data as a tool for policy makers to understand better citizens’ perceptions, since it provides highly anonymous and high-frequency series in real-time.
Fisheries: Commercial fishing and aquaculture performed in internal waters and in the territorial sea within a distance of 12 miles, measured from the base lines, are reserved exclusively to licensed Uruguayan-flagged vessels.
Efficient management of state-owned enterprises (SOEs) and reform of the public administration can be a crucial element of future political and economic reforms in Uruguay. This chapter reviews recent reforms to increase oversight of and transparency in the use of resources by SOEs in Uruguay. It also discusses the progress in encouraging private participation in infrastructure projects. Finally, it reviews overall progress in public administration reforms, including to prevent misconduct in the public sector, fight corruption and minimise the risk of undue relations with business.
Poverty in Uruguay increased from 3.6% in 2016 to 4.3% in 2022 but remains significantly below the Latin America and the Caribbean (LAC) average of 24.1%. Extreme poverty increased slightly from 0.2% in 2016 to 0.3% in 2022 but is well below the LAC average (8.3%). The Gini index increased from 39.7 in 2016 to 40.8 in 2021, remaining below the LAC average (44.8). Regarding investment and production transformation indicators, total investment in Uruguay increased from 16.9% of GDP in 2016 to 18.5% in 2022, following the LAC average trend, which increased from 20.8% to 21.3% over the same period. Private investment, however, decreased in Uruguay, from 15.0% of GDP to 12.0%, dropping further below the LAC average (15.8% in 2019). Uruguay’s labour productivity, measured against output per employed person in the United States, decreased from 39.0% in 2016 to 38.0% in 2023, while remaining well above the LAC average of 27.1% in 2023. The share of exports of high-tech products in total exported manufactured goods declined from 10.6% in 2016 to 9.8% in 2020 but continues to be above the LAC average (7.2%). Positive perceptions of foreign direct investment (FDI), which declined across the region, dropped in Uruguay, from 74.3% in 2016 to 65.0% in 2020. The country’s tax revenue increased from 25.6% of GDP in 2016 to 26.5% in 2021, above the regional average of 21.5%. Environment-related tax revenues remained almost unchanged, rising from 1.7% of GDP in 2016 to 1.8% in 2021, above the regional average of 0.9%.
Uruguay can legally issue the following type of ruling within the scope of the transparency framework: cross-border unilateral APAs and any other cross-border unilateral tax rulings (such as an advance tax ruling) covering transfer pricing or the application of transfer pricing principles
Uruguay’s legal framework implementing the AEOI Standard is in place and is consistent with the requirements of the AEOI Terms of Reference. This includes Uruguay’s domestic legislative framework requiring Reporting Financial Institutions to conduct the due diligence and reporting procedures (CR1) and its international legal framework to exchange the information with all of Uruguay’s Interested Appropriate Partners (CR2).
Uruguay can legally issue the following type of ruling within the scope of the transparency framework: cross-border unilateral APAs and any other cross-border unilateral tax rulings (such as an advance tax ruling) covering transfer pricing or the application of transfer pricing principles
Poverty in Uruguay increased from 3.6% in 2016 to 5.2% in 2020, partly owing to the impact of the COVID-19 pandemic, but remains substantially lower than the Latin America and the Caribbean (LAC) average of 26.3%. Extreme poverty increased in that period from 0.2% to 0.3%, also far below the LAC average (8.7%). The population living in completely informal households decreased by almost half – from 28.5% in 2008 to 16.3% in 2018 – bringing it far below the LAC average of 36.3% in 2018. Regarding environmental indicators, in 2019, greenhouse gas (GHG) emissions per capita were 10.4 tonnes of carbon dioxide equivalent (t CO2e), higher than the averages for LAC (6.3) and countries belonging to the Organisation for Economic Co-operation and Development (OECD) (9.1). That year, the share of the population exposed to air pollution levels that pose risks to human health (PM2.5 at more than 10 µg/m3) was 26.5%, substantially lower than 95.4% for LAC and 61.0% for the OECD. The marine protected area of Uruguay accounted for 0.75% of its territorial waters in 2021, far below 7.3% for LAC and 18.6% for the OECD. On the fiscal side, environmentally related tax revenue was 1.8% of gross domestic product (GDP) in 2020, above LAC (1.0%) but slightly below the OECD (2.1%). Total tax revenues as a percentage of GDP in 2020 (26.6%) remained higher than the average for LAC (21.9%) but below the OECD (33.5%).
This report analyses the implementation of the AEOI Standard in Uruguay with respect to the requirements of the AEOI Terms of Reference. It assesses both the legal frameworks put in place to implement the AEOI Standard and the effectiveness of the implementation of the AEOI Standard in practice.