Chile: Parameters for the Construction of 2014 Fiscal Budget Released

CHILE - In Brief 28 Aug 2013 by Luis Cespedes

The government announced today the assumptions for the long-term price of copper and for potential GDP to be used in the construction of 2014 Fiscal Budget. The two independent external committees in charge of generating the long-term price of copper and potential output assumptions respectively came to the following figures: a long-term price of copper of 3.04 dollars per pound (down from 3.06 dollars per pound last year) and potential output growth of 4.8% (down from 5.0% last year). These figures plus the commitment of the current administration to cut the structural fiscal deficit from an expected 1.2% in 2013 to 1% in 2014 should reduce the expansion of government expenditure next year.

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