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Finance Ministry Ready to Boost Social Aid Ahead of Recovery

CHILE
  • Chile is preparing measures to boost productivity and stands ready to step up aid to the poor ahead of an economic recovery that won’t kick in before May of next year, the nation’s finance minister said in an interview. (BBG)
  • * The government will unveil proposals to improve productivity in the next few weeks, Marcel said, without giving details, speaking on Friday while in Washington for the World Bank and International Monetary Fund annual meetings.
  • * This week, the government will present changes to its mining royalty proposals, including reducing the sales tax component, making amendments to brackets in the tax on profit and introducing depreciation as a factor in the latter, he said.
    • “We are going to create a proposal that will generate income that’s relatively similar, given the long-term copper price we are working with, and also taking into account the production and cost outlook in the industry,” Marcel said.
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