Chile Finance Head Sees 2% Growth Amid Reform Push This Year

Chile’s new conservative government expects the economy to grow slightly more than 2% this year as it pushes pro-investment reforms and cuts spending amid the impact of the Iran war on fuel prices.

Finance Minister Jorge Quiroz reiterated on Saturday the government’s 4% growth target, while acknowledging the country will have to endure some short-term pain. The administration is looking at other measures to further decrease fiscal expenditures the second half of the year after already carrying out almost $2 billion in budget cuts the last two months.