Chilean Finance Minister Ignacio Briones projected an expansion of the Chilean economy between 1,8% and 2% for this year, coupled with a Negative activity during the months of October and November in the context of the political and social crisis that our country is going through.
The head of the fiscal portfolio announced the figures in conversation with Expreso Bío Bío.
However, he added that as the current situation in the country improves, positive figures will begin to be observed, since the foundations of the Chilean economy are solid.
For its part, Experts agreed that the current scenario is causing a contraction which, in turn, causes growth expectations to fall not only for this year, but also for 2020.
Economist Alejandro Alarcón explained that financial variables are usually the most sensitive to sudden changes in situations of uncertainty or political instability.
Along these lines, he exemplified the above with the price of the dollar, which on Wednesday closed at its highest level in history, passing not only the 800 peso barrier, but also the 810 peso barrier, rising 20 pesos and 20 cents.
The director of the Consulting Department of the Faculty of Economics and Business of the University of Chile, Pablo Barberis, indicated that the second semester was showing a reactivation of the economy that generated a real growth projection of 2,5%. However, that changed, and in a negative way.
Meanwhile, Alpari Research market analyst Cesar Valencia said that the Projections that had been made about economic growth were lowered so much so that a technical recession cannot yet be ruled out.
Briones was part of the debates in the joint committee on the 2020 Budget on Tuesday.
In the instance he categorically stated that lFiscal resources are limited at this time and that “criminals and drug traffickers have kidnapped and paralyzed the country”; and that this has generated a major impact on the economy.
In his interview with La Radio, the minister justified the use of the word kidnapping, saying that it prevents people from carrying out their daily lives, which is what is currently happening in his opinion.
?The Holder of the @min_hacienda @ignaciobriones_ reiterates the negative impact of violent protests on the country's economic activity.
Listen to the LIVE interview with @biobio ? https://t.co/H4mLgEicXD pic.twitter.com/p7XoiqvB1V
— Ministry of Finance Chile (@Min_Hacienda) November 27, 2019
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