SANTIAGO—Chilean President Sebastian Pinera unveiled an $82.1 billion draft budget for 2022 on Thursday, that he said would begin to tame a ballooning deficit in the world’s top copper producer following more than a year of emergency spending to combat the COVID-19 pandemic. In a televised speech, the center-right president said the budget would reduce the structural deficit from 11.5 percent of gross domestic product in 2021 to 3.9 percent of GDP in 2022. “This represents…a necessary step forward in the recovery of fiscal balance, in the stabilization of the public debt, and in the strengthening of the permanent pillars of the economic growth and human development of our country,” Pinera said. Chile’s economy has roared back from months of budget COVID-19-induced stagnation, buoyed by a world-class vaccination campaign, and a raft of stimulus measures unleashed by the government. But those measures, Pinera said, had seen the 2021 budget balloon …
Chile’s 2022 Draft Budget Seeks to Tame Deficit After Pandemic Splurge, Pinera Says
September 24, 2021
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