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The Minister of Economy, Lucas Palacios, commented the difficult panorama that Chile will have to face as a result of the pandemic as the weeks progress, terrain that was already stony since the social outbreak.
“(The) next few months will be very hard socially, with rising unemployment and decreased family income”, expressed the secretary of state.
He said the above in the context of a “thread” that he wrote on his Twitter account, in which he referred to the Economic Expectations Survey (EEE) that this Tuesday the Central Bank (BC) released.
This survey, said the minister, “shows the depth and also transience of the economic crisis what is coming right now”.
Specifically: the projection of GDP for the second quarter falls sharply, from -4.9 to -7.2. The GDP projection for 2020 also falls from -2.2 to -2.7. Regarding the Brutal Formation of Fixed Capital, which is a measurement of investment, this would fall -8.3 in the year ”, he indicated.
Palacios maintained that the survey also reflected that the inflation will remain “contained” (0%), which would keep the UF value stable until July or August.
“Regarding Imacec, 8.1% drop expected in April. (…) Although the growth projection for this year is revised down to -2.7%, for next year a growth of 3.5% is projected, ”he wrote on the social network.
Lastly, and with respect to this same survey applied by the BC to the experts, he pointed out that “private consumption projections for 2020 are added, which would fall by 3%, evidencing restrictions on domestic consumption ”.
The Central Bank’s Economic Expectations Survey (EEE) shows the depth and also transience of the economic crisis that is coming. The next few months will be very hard socially, with increases in unemployment and a decrease in family income. (I open thread …)
– Lucas Palacios (@LucasPalaciosC) May 12, 2020
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