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LatinNews Regional Monitor: Brazil & Southern Cone - 11 July 2017

In brief: Chile

Chile: Chile’s finance minister Rodrigo Valdés has announced that the government led by President Michelle Bachelet has updated its growth projections for 2017 and is now forecasting that GDP will grow by 1.5% this year, down from a 2.25% forecast in September 2016. Valdés said that economic activity had been impacted by the miners’ strikes, while the government has also had to address unforeseen issues such as widespread forest fires in the south earlier this year. The latest figures for the monthly economic activity index (Imacec), released by Chile’s central bank (BCCh) on 5 July, show a 1.3% increase in economic activity in May compared with the same month last year. The mining Imacec was down by 4.6%, while the non-mining Imacec was up by 1.9%.

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