Chile: Chile sails into unchartered waters after turbulent spring
Country-wide protests have rocked Chile since mid-October, weighing on the economic outlook of Latin America’s long-time poster child.
Economic activity crashed to an over one-decade low in October, while both the peso and consumer sentiment slumped to all-time lows in November. The social unrest has already considerably dampened short-term prospects and the uncertainty surrounding the promised rewriting of the constitution could also significantly alter the longer-term outlook. After nearly three decades of relative stability and impressive economic growth, Chile is now heading into unchartered waters.
Looking ahead, our Consensus Forecast sees Chile’s economy growing 2.2% next year. However, underlining the sheer uncertainty of Chile’s outlook, the spread among our panelists’ projections range from 1.3% to 3.0%. Whether or not President Sebastian Piñera can defuse the protests with the new constitution, and whether or not investors take flight at the new spending promises, will have a significant bearing on Chile’s outlook.
Disclaimer: The views and opinions expressed in this article are those of the authors and do not necessarily reflect the opinion of FocusEconomics S.L.U. Views, forecasts or estimates are as of the date of the publication and are subject to change without notice. This report may provide addresses of, or contain hyperlinks to, other internet websites. FocusEconomics S.L.U. takes no responsibility for the contents of third party internet websites.
Date: December 23, 2019
Tagsprecious metals Gold Latin America Housing Market Argentina Central America Japan Israel United States France Venezuela Lagarde Forex TPS Portugal Eurozone election TPP Economic Debt Euro Area Major Economies Exchange Rate UK Copper Economists Banking Sector United Kingdom Turkey Nordic Economies Costa Rica; GDP; Budget Economic Crisis Palladium Asean Economic Growth (GDP) CIS Countries Ukraine GDP OPEC Resource Curse China Asian Financial Crisis interview Vietnam Exports Russia Colombia Tunisia Greece Italy Trade chile Bitcoin Precious Metals Commodities Agricultural Commodities India IMF Eastern Europe Unemployment rate Base Metals Cryptocurrency oil prices European Union scotiabank Africa MENA Canadian Economy Brexit Sub-Saharan Africa Company News G7 Cannabis Mexico Investment public debt Infographic Emerging Markets Iran South Africa Base Metals Commodities Healthcare Energy Commodities Brazil Oil Consensus Forecast Asia USA Commodities Political Risk economic growth Inflation Germany Draghi Australia Spain Nigeria Canada Budget deficit
Read about the story of inflation in recent decades and the prospects moving forward in our latest article:… https://t.co/4vQ6Q1czVd
2 days ago
Major Euro area countries have seen their 2021 GDP forecasts repeatedly trimmed since the beginning of the year, du… https://t.co/83nuyeJ2uv
3 days ago
4 days ago
Lockdown: One Year On looks at how the various measures taken by governments around the world have impacted key eco… https://t.co/jgPxgPl2tJ
6 days ago
In late March of last year, one of the world’s strictest lockdowns to curb the spread of Covid-19 was introduced in… https://t.co/JNgk2VnZxI
1 week ago