Regarding the application of a new mining royalty in the world’s largest producer of copper and the second largest producer of lithium, Marcel said that he will present indications to the project that is already being discussed in Congress, since it is not practical to start from scratch.
Regarding economic projections, Marcel said that he still does not have his own update but he was satisfied with the range estimated by the Central Bank in December, when he projected GDP growth between 1.5 and 2.5%.
“It seems reasonable for an economy that has to make a certain adjustment to reduce the inflationary pressures that have manifested themselves in recent months,” he said, explaining that this will imply that domestic demand must “slow down significantly.”
Marcel said that he is trying to move quickly on the definitions of the new government to reduce the current uncertainty and said that he was committed to following a path of fiscal consolidation for the coming years.
The official said that although the current conflict in Ukraine has almost no direct effects on the local economy, the impact it has brought on fuel or grain prices is a factor to keep an eye on.
“Without a doubt, it is a worrying situation, but fortunately the Chilean economy is a little further away from the conflict and also has mechanisms to absorb this type of ‘shocks’, which have proven to be effective in other circumstances,” he said.
Marcel also explained that a more focused “recovery” program will be applied shortly for certain sectors that have lagged behind in the recovery of the economy.
“There are service sectors and groups of workers, especially women, who have not yet recovered to the pre-pandemic situation,” he said.