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CHILE: President Boric Unveils 2025 Budget Proposal, August Retail Sales, IP

CHILE
EM BulletBulletGlobalEmerging Market NewsRegion
  • President Boric unveiled the 2025 budget on Sunday night, announcing a 2.7% rise in spending with a focus on security. The government will increase expenditure on fighting organised crime and around 1,300 new police officers will be deployed, supported by funds coming from the recently approved anti-tax evasion bill. The government has said that this bill will raise an extra $1.2bn (0.4% of GDP) in funds next year. Elsewhere, spending on health, housing and education will also be top priorities.
  • Datawise, August activity figures are released at 1300BST(0800ET), including retail sales, IP and copper production. While retail sales growth is expected to rise to 5.0% y/y, analysts expect IP growth to soften to 2.0% y/y on the back of a slowdown in manufacturing production. The unemployment rate is also expected to edge up to 8.9% in August, from 8.7%.
    • Aug. Retail Sales YoY, est. 5%, prior 2.7%
    • Aug. Unemployment Rate, est. 8.9%, prior 8.7%
    • Aug. Industrial Production YoY, est. 2%, prior 3.6%
    • Aug. Copper Production Total, prior 443,633 tons
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  • President Boric unveiled the 2025 budget on Sunday night, announcing a 2.7% rise in spending with a focus on security. The government will increase expenditure on fighting organised crime and around 1,300 new police officers will be deployed, supported by funds coming from the recently approved anti-tax evasion bill. The government has said that this bill will raise an extra $1.2bn (0.4% of GDP) in funds next year. Elsewhere, spending on health, housing and education will also be top priorities.
  • Datawise, August activity figures are released at 1300BST(0800ET), including retail sales, IP and copper production. While retail sales growth is expected to rise to 5.0% y/y, analysts expect IP growth to soften to 2.0% y/y on the back of a slowdown in manufacturing production. The unemployment rate is also expected to edge up to 8.9% in August, from 8.7%.
    • Aug. Retail Sales YoY, est. 5%, prior 2.7%
    • Aug. Unemployment Rate, est. 8.9%, prior 8.7%
    • Aug. Industrial Production YoY, est. 2%, prior 3.6%
    • Aug. Copper Production Total, prior 443,633 tons