Bloomberg Television

Chile Is in Recession, But Will Rebound, Says Finance Minister Quiroz

Quiroz, Caroline Gage

Facing a technical recession driven by a copper supply shock, the Chilean administration has successfully enacted structural reforms including a 40-year low corporate tax rate and a record $6 billion investment approval surge to target a 3.3% GDP recovery. The government has tightened its fiscal deficit to 1.8% of GDP while restructuring state miner Codelco to attract private capital and diversify export markets away from China through strategic foreign screening and U.S. partnerships. Despite low approval ratings, the administration prioritizes long-term debt stability and pension regulatory caps to secure a projected 4% annual growth trajectory by 2028.