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Finance Minister Marcel Maintains Optimism On Growth

CHILE
  • After last week's Ipom projected greater growth for this year and confirmed the "green shoots" projected by the Treasury, contrary to many market forecasts, Marcel believes that investment will rebound more robustly than expected and calls for removing the “economy from the political arena.” (La Tercera)
  • Marcel indicated the ministry is re-evaluating the macroeconomic scenario ahead of the May Public Finance Report and he does not foresee major changes from their previous projection.
  • “We want to be realistic in our projections. Credibility is earned by being serious and avoiding following the waves of public discussion. Our vision is that there is enough idle capacity in the economy to grow above trend GDP in 2024 and 2025.”
  • “Fiscal policy will continue its trajectory of consolidation this year and next. Our goal is a structural deficit of 1.9% of GDP versus 2.6% in 2023. What is certain is that we are putting greater emphasis on investment in infrastructure than what was done last year and that can help recover Gross Fixed Capital Formation.”
  • My ambition today is to move this economy forward," Marcel said when being asked about a possible presidential candidacy in 2025. Full article here.
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