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Economy & Business - July 2019

Plan to turbo-charge infrastructure investment in Chile

By June, President Sebastián Piñera needed to take urgent action. Having taken office for a second four-year term 15 months earlier, largely on the promise of faster economic growth, he had relatively little to show for his efforts. Indeed, growth tumbled from an annualised 5.0% in the second quarter of 2018 down to 1.9% in the first quarter of this year. Stung by falling popularity in the opinion polls, Piñera did two things: first, he reshuffled his cabinet, and second, he announced a “powerful” programme to accelerate public works. The question is whether the infrastructure push will have the desired effect.

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