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Finance Minister Seeks To Improve Fiscal Rules, Pinera Boosts Spending

CHILE

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Chile's Finance Minister Rodrigo Cerda says government will seek input from nation's autonomous fiscal council on ways to improve fiscal rules.

  • Finance Ministry seeking to better guarantee fiscal sustainability
  • Fiscal revenues likely to increase in 2021 on higher copper prices
  • Higher revenues helping to finance emergency measures against coronavirus
  • Finance Ministry working to have 2021 GDP growth above current government estimate of 5% (bbg)

He also reiterated that recent spike in virus cases and new quarantines represent risks:

  • This comes as Chile orders full lockdown in 21 districts in Santiago
  • Chilean President Sebastian Pinera unveiled emergency spending measures worth $6 billion, or 2% of gross domestic product, as the government expands quarantines aimed at slowing the nation's most severe virus wave yet.

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