Finance Minister Mario Marcel has said the economy will expand by 2.5% in 2024. — Bloomberg
SANTIAGO: Chile’s economic activity expanded more than expected in November on gains in mining and services, supporting President Gabriel Boric’s forecast of a rebound in growth in 2024 after a year of stagnation. The Imacec index, a proxy for gross domestic product, rose 0.3% from October, above the 0.2% median estimate of analysts in a Bloomberg survey.
The index increased 1.2% from the prior year, the central bank reported on Tuesday.
Chile is looking to move past a year marked by tight monetary conditions, weak consumer demand and above-target inflation, with both the government and the central bank estimating growth stalled in 2023.
Things are starting to look up. Finance Minister Mario Marcel has said the economy will expand by 2.5% in 2024.
“We expect the moderate uptrend to continue in 2024 amid increasing output from new copper and gold mines, slower inflation and lower interest rates. — Bloomberg
