Chile | Little room for manoeuvre: public expenditure growth in 2016 to be around 4.6%

The government released the structural variables for the 2016 Budget Law: potential GDP and long-term price of copper. As expected, both were revised downwards. With no full information, but assuming the target of a structural balance of -0.8% of GDP, we estimate a public expenditure growth in 2016 of 4.6%.

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