Back

Weekly Report - 24 July 2014 (WR-14-29)

TRACKING TRENDS

CHILE | Growth forecast cut. The government has cut its economic growth forecast for the second time this year, from 3.4% to 3.2%. The Chilean economy has been suffering from a slowdown since last year when it posted a growth rate of 4.1% after averaging growth of 5.8% in the previous two years. Appearing before congress, the government’s budget director, Sergio Granados, pointed to a number of factors: a fall in activity in the domestic copper mining industry; the recent earthquake that hit northern Chile; the devastating fire in the city of Valparaíso; and the depreciation of the peso. A fall in copper mining activity means that the production levels for the state copper firm, Codelco, one of the main sources of government revenue, have been significantly reduced.

End of preview - This article contains approximately 242 words.

Subscribers: Log in now to read the full article

Not a Subscriber?

Choose from one of the following options

LatinNews
Intelligence Research Ltd.
167-169 Great Portland Street,
5th floor,
London, W1W 5PF - UK
Phone : +44 (0) 203 695 2790
Contact
You may contact us via our online contact form
Copyright © 2022 Intelligence Research Ltd. All rights reserved.