Chile Cuts Forecast for 2019 GDP Growth Amid Mining, Commerce Slump
Published on: Tuesday 09 July 2019
Chile expects its economy to grow 3.2% in 2019, down from a previous estimate of 3.5% in April, the country's finance minister said Tuesday, amid slumping copper prices and a fall in global commerce.
Finance Minister Felipe Larrain told a Chilean Senate commission he expected the average copper price for 2019 to be $2.85 per pound, down sharply from a previous estimate of $3 per pound.
Copper exports from Chile, the world's top producer of the red metal, can account for as much as 15% of the nation's GDP.
"We all had higher hopes when the year started ...
News source: https://www.voanews.com/americas/chile-cuts-forecast-2019-gdp-growth-amid-mining-commerce-slump
