INSUBCONTINENT EXCLUSIVE:
After the good performance of public finances in 2022, Chile would again deepen the deficit as of the 2023 Budget presented by the Socialist
reproduction)The 2023 Budget threatens to abandon fiscal discipline, severely increasing the need for internal and external indebtedness.The
deficit would reach 1.2% of GDP.Despite the fact that the 2023 Budget allows for a significant increase in tax resources, expenditures will
grow even more.Public investment expenditures will grow by 5.5% annually in 2023, and social security spending will increase by up to 8%.But
government authorized the imposition of withholding taxes on mining exports at rates varying from 2% to 32%, and the wealth tax (the
because of the retraction of domestic credit in local currency.The Chilean capital market was developed based on the savings of the
individually funded system, and the pension reform systematically penalizes it.The Socialist Government boasted about the strong fiscal
results achieved in 2022, eliminating the primary deficit and reaching a financial surplus for the first time in 10 years.However, it should
administration, but the real Budget of socialism will take place as of this year and with its due consequences in terms of fiscal
current fiscal period.With information from Derecha Diario
