Chile’s new rightwing government is aiming for 4 per cent growth and a balanced budget by 2029, the incoming finance minister has said, as the country enjoys a surge in copper prices.
The red metal rally would complement sweeping spending cuts to eliminate the fiscal deficit, said Jorge Quiroz, who is planning corporate tax breaks and eased regulations to unlock growth.
“Our package will start to show results at the end of next year and ultimately converge to a trend growth of 4 per cent,” said Quiroz, who will take over Chile’s powerful finance ministry in March.
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