Macro Analysis /

Chile: Fiscal deficit rises to 3.9% of GDP in Jan-Jul

    3 September 2021
    • July sees record deficit of 1.5pps of GDP, pressure will remain as high in coming months
    • Spending jumps 59.7% y/y against high base due to IFE program expansion
    • Revenues grow 21.8% driven by copper-related income
    • FinMin's deficit forecast of 7.1% of GDP looks low despite GDP overperformance