Chile’s President, Sebastián Piñera, whose government today adjusted the growth projection for his nation to around 3%, said that with the exception of Peru, the other Latin American countries “are stagnating.”
“This year we will grow by around 3 %, that is, much more than the previous government, to give a point of reference; but if we compare it with the rest of Latin America: Argentina is in recession, and Brazil, Mexico and Colombia are practically stagnant,” Piñera said in statements to Chilevisión.
The president stressed that ” the only two countries that will grow in the region are Peru and Chile.”
“Of course I’m not happy with what’s out there. I would like (Chile) to grow twice as much, to create much more jobs and we work on that every day. I’m telling you that the world stage has become very difficult and not just for Chile.
In this context, the Chilean head of state said that the increase in unemployment in his country, of 18 million inhabitants, is due to high levels of immigration.
He argued that over the past four to five years, as a result of immigration, the labour force has increased by one million people.
“What does that mean, that the demand to create jobs is much greater than we had before,” he emphasized.
The Government of Chile had set the 9th of July to the low projection of growth of gross domestic product (GDP) for this year, placing it at 3.2 %, while retaining the range of between 3 % and 3.5 % raised last march.
On the occasion, the Minister of Finance, Felipe Larraín, said. “We have a downward bias against the midpoint (range), so 3.2%.”
However, on the same date, experts and market agents distanced themselves from the executive’s projection and bet on an increase of 2.8 %, in the sixth cut in their own expectations for the current year.