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LatinNews Daily - 24 September 2021

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In brief: Chile’s Piñera unveils 2022 budget proposal

* Chile’s President Sebastián Piñera has presented his government’s draft budget for 2022, which outlines US$82.14bn in spending. This represents a 3.7% increase on the approved 2021 budget, but actually consists in a 22.5% reduction in real spending this year, as extraordinary expenditures related to the coronavirus (Covid-19) pandemic are expected to bring the 2021 budget execution to Cl$78.2trn (US$99.56bn). Piñera described the 2022 budget as a “budget for the inclusive and sustainable development of our country” as it prioritises healthcare, employment, education and security on the one hand, and strengthens investment and growth, pursues fiscal and macro-economic stability, and protects the environment on the other. It plans for a reduction in the fiscal deficit to 3.9% of GDP, down from 11.5% this year, and an 8.2% increase in investment, focused on housing, public works, and sports infrastructure ahead of the 2023 Pan American Games which Chile will host.