Uruguay: public finances

What is Uruguay's budget deficit?

Uruguay's central government and social security bank (GC-BPS) had a deficit of 3.6% of GDP in the 12 months to August 2026, according to the Ministry of Economy and Finance public sector result for August 2026. Excluding payments into the Social Security Trust Fund II, the deficit was 4.0% of GDP. The global public sector deficit was 4.7% of GDP.

The MEF reports results on a rolling 12-month basis. GC-BPS revenue was 27.5% of GDP, primary spending 28.8% and interest payments 2.3%. The global public sector adds state companies, local governments and the Central Bank to the central government.

Official sources: MEF: Resultado del Sector Público a agosto de 2026

How much debt does Uruguay's government have?

Uruguay's central government gross debt was projected at 61.2% of GDP at the end of June 2026, 1.4 percentage points higher than at the end of 2025, according to the Ministry of Economy and Finance's sovereign debt report for the first and second quarters of 2026. Net debt, after deducting financial assets, was 57.6% of GDP.

The government's medium-term anchor is to keep net debt below 65% of GDP. 56.6% of the debt was in pesos at the end of June 2026, up from 55.5% at the end of 2025, as the government issues more debt in local currency to reduce exchange rate risk. Gross debt, including multilateral loans, was US$54,930 million.

Official sources: sovereign debt report for the first and second quarters of 2026

How much tax does Uruguay collect?

Uruguay's tax revenue was 17.86% of GDP in 2024, down from 18.37% in 2023, according to IMF government finance data on World Bank Open Data. The measure covers taxes collected by central government, excluding social security contributions.

Central government and social security bank (BPS) revenue as a whole was 27.5% of GDP in the 12 months to August 2026, according to the Ministry of Economy and Finance's public sector result for August 2026, which includes social security contributions. The main taxes are VAT (IVA), personal income tax (IRPF) and corporate income tax (IRAE), collected by the tax authority DGI.

Official sources: World Bank Open Data · public sector result for August 2026

What is Uruguay's national debt?

The latest figure from the IMF, for 2025, is 65.6% of GDP. Its high point since 2005 was 2020, at 68.2% of GDP; its low point was 2010, at 40.9% of GDP. It is 16th highest of 31 in Latin America & Caribbean, where the median is 65.6% of GDP. World rank, highest first: 62nd of 185.

What is Uruguay's fiscal deficit?

According to the IMF, general government net lending or borrowing in Uruguay was -3.4% of GDP in 2025 (a deficit). The peak was -0.2% of GDP in 2007 and the low -4.6% of GDP in 2020. Across Latin America & Caribbean the middle value was -2.8% of GDP, and Uruguay placed 18th highest of 32. World rank, highest first: 113th of 188.

How much does Uruguay's government take in?

The latest figure from the IMF, for 2025, is 28.1% of GDP. Its high point since 2005 was 2018, at 28.5% of GDP; its low point was 2008, at 25.0% of GDP. It is 11th highest of 32 in Latin America & Caribbean, where the median is 24.9% of GDP. Of 187 countries with 2025 data, 87th highest.

How much does Uruguay's government spend?

According to the IMF, general government spending in Uruguay was 31.5% of GDP in 2025. Its high point since 2005 was 2020, at 32.8% of GDP; its low point was 2005, at 26.3% of GDP. It is 11th highest of 32 in Latin America & Caribbean, where the median is 26.7% of GDP. Worldwide: 87th of 186.

How much tax does Uruguay collect?

In 2024, central government tax revenue in Uruguay was 17.9% of GDP, according to the IMF. The peak was 21.7% of GDP in 2016 and the low 17.1% of GDP in 2015. Across Latin America & Caribbean the middle value was 15.0% of GDP, and Uruguay placed 4th highest of 14. Of 92 countries with 2024 data, 48th highest.

How much does Uruguay spend on its military?

SIPRI puts military spending in Uruguay at 2.3% of GDP in 2025. It is the top of the series, which starts in 2005. Across Latin America & Caribbean the middle value was 1.0% of GDP, and Uruguay placed 2nd highest of 22. Of 149 countries with 2025 data, 44th highest.