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Eco Emerging

Chile: Reforms against a backdrop of recession
17/01/2023 • By Hélène DROUOT

Chile is unlikely to escape a recession in 2023. The slowdown in global demand will weigh on exports, while domestic demand continues to be eroded by high inflation and interest rates due to restrictive monetary policy [...]

Eco Conjoncture

The "right balance": an economic and political challenge
12/10/2022 • By Hélène DROUOT

Gabriel Boric, the candidate of the very broad left-wing coalition, won the second round of the presidential election last December. He took office in mid-March, and is already facing numerous challenges. His general policy speech at the beginning of June, and then the tax reforms he brought forward at the end of June, have confirmed his intention to implement economic and social policies which differ from those of previous governments [...]

Charts of the Week

Chile: rejection of the draft constitution
06/09/2022 • By Hélène DROUOT

In Chile, a large majority of voters (nearly 62%, with an exceptional voter turnout) rejected the draft new constitution in the referendum held on 4 September. The draft, which contains almost 400 articles, did not propose a profound reform of the Chilean economic model; the Central Bank had to remain independent, while property and labour rights were not called into question [...]

EcoTV Week

Chile: new president takes office
18/02/2022 • By Hélène DROUOT

Gabriel Boric, candidate of a vast left-wing coalition, won the second round of the Chilean presidential elections, last December. He will take office in March and his government will have a full agenda. Regarding economy, growth has slowed down since 2015.

 
Eco Emerging

A full programme
25/01/2022 • By Hélène DROUOT

Gabriel Boric won the second-round presidential election in December. He will take up his post in mid-March and will face many challenges during his term. The new government will have to deal with a fragmented legislative assembly and high levels of popular expectation. Economic growth is likely to slow as exceptional support measures are gradually withdrawn. Although vaccination levels are high, activity could be weakened by new waves of infection and the accompanying restrictions [...]

Charts of the Week

Chile: Challenges aplenty for the new government
21/12/2021 • By Hélène DROUOT

Gabriel Boric, the candidate heading up the very broad left-wing coalition, won the second round of voting in Chile’s presidential election on 19 December, beating J. Kast, the far-right candidate. While the country’s economic fundamentals have held up relatively well over the past two years, the incoming administration (taking office in March) will have to deal with a number of very thorny issues [...]

Eco Emerging

New challenges
12/07/2021 • By Hélène DROUOT

The economy should rebound strongly in 2021 thanks to a successful vaccination campaign, improved prospects for global growth and higher copper prices. According to the monthly economic index, in early Q2, real GDP returned to the pre-pandemic level of December 2019. Looking beyond 2021, economic growth prospects could be marred by persistent political tensions plaguing the country [...]

Charts of the Week

Growth bounces back in Chile
15/06/2021 • By Hélène DROUOT

The improvement in global growth prospects and the success of the vaccination campaign have helped sustain the recovery in Chile’s growth seen since Q3 2020, despite the reintroduction of relatively strict health protection measures in the early part of 2021. Household consumption grew strongly and is likely to continue to drive growth, boosted by stimulus measures and the opportunity given to a large number of employees to draw on their pension savings [...]

Eco Emerging

Crisis times
27/01/2020 • By Hélène DROUOT

With violent protests rocking Chile since October, the government announced a series of measures to combat inequality and proposed a new version of its pension system reform. Above all, the government signed an agreement with the main opposition parties to draw up a new constitution. Yet persistently fierce political and social tensions are bound to curtail growth. Forecasts for the next two years have been revised largely downwards [...]

Eco Emerging

A question of reforms
18/04/2019 • By Hélène DROUOT

GDP growth rebounded in 2018, buoyed by higher copper prices and the renewed confidence of investors following the election of Sebastian Piñera. Over the course of his mandate, President Piñera’s ambition is to implement fiscal policies that will boost growth and stimulate investment while consolidating public finances, but this could prove to be harder to achieve than expected [...]

Chile is a Republic (Republica de Chile) of South America. It is part of the Southern Cone and is one of the Latin American countries. Chile enjoyed strong and credible institutions. The country’s export commodity dependence (48% of total exports) remains a challenge, but it has declined over the last ten years thanks to the diversification in economic activity. These good fundamentals helped Chile absorb the shock in 2020 and will continue to support the economic outlook in the short and medium terms.