“There is great pressure on families due to the rise in cost of the life“said the Chilean president, listing external factors such as the war in Ukrainethe increase in the price of fuels and the fall in the price of copperChile’s largest export product.
“We are making every effort to support the sectors most affected by this crisis without abandoning our commitment to responsibility fiscal“, he added.
Fear no effect on prices
According to Marcel, the “magnitude” of the plan announced on Monday is less than the set of aid launched during the pandemic and is more focused, so “it will not have an impact on inflation”, which today responds rather to factors external.
The government’s announcement comes at a time when it promotes a reform tax to finance its ambitious social agenda.
Chile’s economy has cooled down this year after the rapid recovery after the health crisis, which was due in part to millionaire state aid and several partial withdrawals from pension savings funds.
But this recovery, now added to external factors, has put pressure on prices. In annualized terms, inflation as of June reached 12.5% while in the last month the local currency has fallen more than 15%, even leading it to break the barrier of 1,000 pesos per dollar for the first time.
Source: Ambito
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