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Experts anticipate difficulties for Chilean economy

Experts anticipate difficulties for Chilean economy

Santiago, Chile, Oct 5 (Prensa Latina) After the surprising result of the economic activity in August, several specialists have warned that the trend of contraction in Chile continues and the difficulties will be greater in the coming months.

The Central Bank reported on Monday that there was zero growth in the eighth month of the year, with no increase or decrease compared to the same period in 2021, when projections indicated the beginning of a period of recession.

After knowing this result, Minister of Finance Mario Marcel described it as “a soft landing” and announced a modest increase of 1.6 points in the Gross Domestic Product (GDP) by late December.

However, he warned about greater difficulties for the population in the last quarter of the year, mainly due to an increase in the price of the basic family basket.

In the same line, the Santiago Chamber of Commerce highlighted the better-than-expected result in August, which does not modify the expectations of a phase of economic contraction that could extend for up to three quarters due to a fall in private consumption.

High inflation, restrictive monetary policy and difficult conditions in international markets will continue to have a negative impact on Chile’s GDP.

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