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2012 OECD Economic Surveys: Chile 2012

image of OECD Economic Surveys: Chile 2012

OECD's 2012 Economic Survey of Chile examines recent economic developments and policies, progress in structural reform, reducing poverty in Chile through cash transfers and better jobs, and the housing market in Chile.

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Assessment and recommendations

Chile’s vigorous recovery after the global recession of 2008-09 and the devastating earthquakes and tsunamis of early 2010 has lost some momentum, as the world economy has turned down. GDP is projected to grow by 6½ per cent in 2011, but to ease to 4% in 2012. Provided that confidence improves and the global economy picks up again later in 2012, growth in Chile should rise to around 5% in 2013. However, as a small, very open economy with a large share of copper in total exports (close to 60% in 2010) Chile would be vulnerable to a sharper than expected global downturn, notwithstanding the fact that it recovered fast after the global crisis of 2008/2009 and proved resilient to the earthquakes and tsunamis in 2010.

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