In Chile it's
belt tightening time;
SANTIAGO – Budget Director Sergio Granados told Congress today that
the Bachelet administration is now looking for 2014 GDP to come in at
3.2 percent, down from a previous forecast of 3.4 percent.
Granados also said that the fiscal deficit, after implementation of
tax reform, will be 2.0 percent compared to the previous estimate, not
including tax reform, which would have been 0.9 percent. The updated
calculation of tax revenues will be slightly lower with a slightly
higher expense component.
The Central Bank’s
most recent Financial Trader’s Survey showed that the majority of
respondents are looking for an even lower 2014 GDP at 2.9 percent.
Chile. Formerly the jewel of South America.
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