LatinNews Daily - 01 October 2025

*Chile’s President Gabriel Boric has presented the final budget proposal of his administration, outlining a modest spending increase of 1.7%, which he said was in line with his government’s fiscal deficit target of 1.1%. Boric’s 2026 budget proposal focuses on areas such as healthcare, for which he has proposed a budget increase of Cl$900bn (US$935.2m), a rise of over 30% since the start of his government in March 2022. Other areas to see a proposed budget increase are housing, pensions, and public security. Boric stated the housing budget would rise over 37% during his presidency with the latest increase, noting that his government was on track to meet its target of building over 260,000 new homes by the end of his term.  He proposed increasing the minimum monthly pension, Pensión Garantizada Universal (PGU), to Cl$250,000 for those over 75 next year, up from Cl$224,004, while the public security budget is set to have increased by 16.7% since the start of his term with next year’s rise. “This budget consolidates four years of work for Chile, uniting social responsibility with fiscal responsibility,” Boric said. The proposal will now be debated by congress.

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