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The Organization for Economic Cooperation and Development (OECD), which brings together 37 countries that together represent 60% of world GDP, advised Chile avoid a new withdrawal of pension funds.
The organization commented in this regard that the country must avoid new withdrawals – such as the one currently being discussed in Congress – to prevent a blow to future pensions; Y focus on direct public support to those in need.
Along with the above, the OECD estimated that greater spending on education should be considered; and stimulate companies to competition and innovation.
Along the same lines, he indicated that Chile should resume the analysis to apply a pension reform.
In the last hours, the Organization projected that the Chilean economy will contract 6% this year, the worst figure in 38 years, due to the coronavirus pandemic, while in 2021 a gradual recovery will begin, supported by private consumption.
The OECD estimated that in 2021 Chile will grow by 4.2% and that “it is prepared for a gradual recovery over the next two years ”.
Private consumption will be the “main engine” hand in hand with earnings from formal employment and hiring subsidies.
However, economic recovery is conditional “Due to high uncertainty and the evolution of the pandemic”, the OECD pointed out.
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