According to the BCU balance, a greater global economic slowdown is expected in 2024, with a lower growth in China and the European Union (EU).

Economic activity in the United States will exhibit “dynamism”, and a slowdown will be evident in the EU and China, despite the latter exhibiting “a slight rebound” after the stimulus measures implemented by its government, the report says.

The BCU observes that global inflation decreased, something mainly explained by the declining in oil prices, although it believes that prices are going down slowly.

The BCU noted that at a regional level, lower inflation is expected in Brazil, although they considered that the Brazilian economy showed “less dynamism” during the third quarter of last year.

Regarding Argentina, the Uruguayan bank foresees a growth in prices and a decline in economic activity, in a scenario in which the new government proposes structural reforms.

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