Macro - Country Economic Forecasts - Chile
We've raised our 2022 GDP growth forecast for Chile by 0.5ppts to 1.5% to reflect stronger-than-expected data for March, suggesting a much better carry-over for the rest of the year. Yet the economy is still set to face a technical recession this year, as inflation is expected to erode real wages and monetary tightening will squeeze credit access, a combination that will keep private consumption momentum weak for the rest of this year. Growth should regain a more sustainable pace of about 2%-2.5% pa by 2024.
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