Jaakko Sarantola

No Picture

Pablo Soria de Lachica Welcomes Uruguay’s Infrastructure Investment

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,…