LatinNews Daily - 01 February 2022

In brief: Chile closes 2021 with lower-than-expected fiscal deficit

*Chile’s finance ministry has released new figures which show that Chile closed 2021 with a fiscal deficit of C$18.5trn (US$24.4bn), equivalent to 7.6% of GDP and lower than the 8.3% that the finance ministry had forecast. Cristina Torres, head of the government’s budget directorate (Dipres), said that improved outcome stemmed from the improvement in economic activity which picked up at the start of the second half of 2021. Torres said that public spending was up 33.2% last year in annual terms, to total C$75.9trn due to measures to help families and individuals in response to the coronavirus (Covid-19) pandemic while revenue totalled C$57.4trn, up 37.8%.

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