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LatinNews Daily - 15 November 2021

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In brief: Chile’s Piñera hails economic recovery

* Chile’s President Sebastián Piñera has said that Chile’s GDP is expected to expand by over 11% in 2021, while investment will expand 25% and “about 1.4m of the 2m jobs lost” during the coronavirus (Covid-19) pandemic will be recovered. Speaking at a conference of business representatives, Piñera said “We have already far exceeded the levels of pre-crisis, pre-pandemic activity, [something] that very few countries…can emulate”. His forecast is higher than the 9.5% GDP growth forecast made by finance minister Rodrigo Cerda when he presented the government’s budget proposal for 2022 in late-September. It follows the latest figures released earlier this month by Chile’s central bank (BCCh) for its monthly index of economic activity (Imacec), which serves as a proxy for GDP, which showed the September Imacec grew 1.7% compared with August and 15.6% year-on-year, exceeding market expectations.