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Economic Stimulus Expansion, BCCh Economist Survey Due

CHILE
  • Chile’s Government Expands Economic Aid Package by $1.2 Billion (Bloomberg)
  • The government is expanding a three-month-old economic aid package by $1.2 billion to help families confront soaring prices and slowing growth. President Boric announced on Monday measures including a one-time subsidy of 120,000 pesos ($120), that will benefit 7.5 million people, and the extension of a job creation program until Q4 of the year.
    • The measures are part of a program called Chile Supports, which was originally launched by Boric in April with a fiscal cost of $3.7 billion. Finance Minister Mario Marcel said the expansion would be financed by tax revenues, which are higher than expected.
    • The new plan “does not mean postponing fiscal responsibility goals,” Marcel said. (BBG)
  • Central Bank Economist Survey at 1330BST/0830ET.
  • Chile Finance Minister Mario Marcel presents 2Q public finance report at 1530BST/1030ET.
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