MONTEVIDEO, Feb 19 (Reuters) - Uruguay’s government is lowering its official forecast for 2014 economic growth to 3 percent from an earlier estimate of 4 percent, a spokesman for the economy ministry said on Wednesday.
The small South American country’s economy has expanded at a slower pace in recent years on weaker exports of soy and meat.
The economy likely grew 3.88 percent in all of 2013, according to a central bank poll published on Tuesday. Gross domestic product rose 3.9 percent in 2012 and 6.5 percent in 2011.
The comments by economy ministry spokesman Matias Ponce follow President Jose Mujica’s estimate earlier this month that the inflation rate would likely remain between 7 percent and 9 percent over the next year - above the government’s target ceiling.