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Multi-dimensional Review of Uruguay

Volume 1: Initial Assessment

image of Multi-dimensional Review of Uruguay

Uruguay has made remarkable progress over the past decade. Stable macroeconomic policies and a favourable external environment have permitted brisk growth and the financing of social policies. Substantial improvements in several dimensions of human well-being have occurred during this period, alongside considerable reductions in external risks. The conditions ahead, however, may present challenges to maintaining performance. Overcoming these challenges will require finding the appropriate balance between long run objectives and macroeconomic and fiscal stability.

One of the main obstacles to economic growth is the insufficient and inadequate provision of human capital and skills. A number of challenges remain for education, which, together with fiscal policy, are key means of reducing inequalities and sustaining economic growth. In addition, Uruguay needs to address labour shortages to avoid constraints on future growth, especially as exports become more skills-intensive. It is important to orient social policies and expenditures towards the most vulnerable groups.

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How's life in Uruguay? Historical performance and an assessment of well-being outcomes

OECD Development Centre

This chapter uses the OECD framework for measuring well-being to diagnose strengths and weaknesses of different dimensions of well-being in Uruguay. It starts with a review of Uruguay’s historical performance focusing on the effects of the 2002 financial crisis and subsequent expansion in the following decade. It then presents the well-being outcomes found in the “OECD How’s Life?” framework. From an international perspective, well-being outcomes in the country are better than could be expected for many areas, including life satisfaction, environmental quality, health, trust, social network support, literacy and access to improved sanitation. However, some areas remain a challenge, such as child poverty, educational attainment, youth employment and personal security. While material conditions are generally high and income inequalities are comparatively low for the region, inequality remains a problem, with children and young people in particular at risk of social exclusion.

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