The Chilean economy will grow between 8.5pc and 9.5pc in 2021, according to estimates made by the Chilean Central Bank.

 

In its Monetary Policy Report for June, the agency raised its forecast from the earlier one in March this year, when it considered that gross domestic product (GDP) growth would be between 6pc and 7pc.

 

The improvement in the growth rate is due to the accumulation of measures to boost spending in the last three months, as well as a better start to the year than expected, the Bank explained.

 

The outlook for an increase in private spending also improved, after the Central Bank raised it to 15pc, compared to the 12pc earlier.

 

On the other hand, projections for 2022 and 2023 were corrected downwards. The country’s expected economic growth rate for 2022 is now 2-3pc compared to 3-4pc estimated in March this year.

 

In 2023, the Chilean economy is expected to grow between 1.75pc and 2.75pc according to this month’s numbers, while in March the forecasted rate was between 2.5pc and 3.5pc.

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