MONTEVIDEO, URUGUAY--(Marketwired - August 31, 2016) - Uruguay's President Tabare Vasquez recently announced that $12 billion has been allocated for use in a four-year infrastructure investment program. International broker Pablo Soria de Lachica believes that this program will not only boost the country's economy through the creation of jobs and new industry, but will also promote progress, development, and growth throughout this region.
"Ambitious but achievable," is how Uruguay's Economy and Finance Minister Danilo Astoi describes this massive endeavor. Moneys for this investment program will come from public funds (66%) and private sector investments (34%) and will not include a hike in taxes nor the use of loans. As it now stands $4.33 billion will be set aside for the energy sector, $2.36 billion will go towards the development and rebuilding of roads; $1.87 billion has been earmarked for social infrastructure -- which encompasses health care, education, and citizen security -- and $1.32 billion will be used for housing upgrades. Smaller amounts have been set aside for revamping and modernizing communications, water and sewer projects and overhauling the nation's ports and railroads. Pablo Soria de Lachica has a deep understanding of world economies and how lacking or subpar infrastructure can greatly affect the country's gross domestic product (GDP), stagnate its growth, and inhibit the ability to attract new industries to the region. He agrees with President Vazquez that this investment will help to optimize Uruguay's productive capacity and will allow for the advancement of the country's long term strategic goal which is to become a logistics hub for the region.
Despite almost ten years of continuous economic growth heightened by the strong global demand for the country's commodities, the national budget has been unable to move out of the red, particularly during the last five years. This is a strong indicator that a more aggressive and long term economic solution is needed which is exactly what the infrastructure investment initiative is. In a press release announcing their partnership and pending investment in this project, Jaakko Sarantola, Senior Vice President of the Finnish company UPM, stated: "Uruguay could accommodate a third pulp mill with proven environmental performance, if the logistics infrastructure would be rebuilt to support large scale export-oriented businesses." He went on to say, "if these challenges can be solved in the coming few years, Uruguay could be a competitive alternative for addressing UPM's opportunities in the 2020's." The leaders of this country do not see the impending project as a mere remodeling effort or a face lift for the city but as an investment its future and legacy.
Pablo Soria de Lachica has an extensive and sophisticated knowledge of the intricacies involved in global economics making him a world leader in international investments and foreign exchange markets. After graduating from the Universidad Tecnologica de Mexico (UNITEC), he went on to become an expert in forex trading and offers his clients an impressive array of trading options, competitive terms and expert financial analysis. His ability to consider and synthesize international intel and conduct quick market analysis has enabled him to develop online trading tools for his clientele and create individualized investment plans tailored to suit every investor. In his free time he supports a plethora of worthy community and environmental causes and generously contributes to various organizations such as the local Boy Scouts, Delta Epsilon Sigma programs, Barnardo's, and Bridges for Peace.
Pablo Soria de Lachica -- Foreign Exchange Specialist: http://pablosoriadelachicanews.com
Pablo Soria De Lachica -- Outlines Consequences of Mexican Loan to Pemex: http://finance.yahoo.com/news/pablo-soria-lachica-outlines-consequences-034249342.html
Pablo Soria de Lachica -- Describes Mexican Budget Plans For 2017: http://finance.yahoo.com/news/pablo-soria-lachica-describes-mexican-063547078.html