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2026-07-16 06:08:11
[Chilean Government Lowers 2026 Economic Forecast, Copper Price Outlook Remains High] 1. In its latest Public Finances (IFP) report, the Chilean government lowered its 2026 GDP growth forecast from 2.1% to 1.8%, primarily reflecting the weak start to the year. The International Monetary Fund (IMF) also gave the same growth forecast in its assessment in early July. 2. Regarding inflation, the Chilean government slightly lowered its 2026 average inflation forecast from 3.7% to 3.6%. The IMF noted that inflation will temporarily exceed the target level in 2026 and early 2027. 3. As the world's largest copper producer, the Chilean government maintained its 2026 average copper price forecast at a high level of US$5.90 per pound. Previously, the Central Bank of Chile had raised its 2026 copper price forecast to US$5.8 per pound, and the actual average copper price in the first half of the year reached approximately US$5.94 per pound. High copper prices provided fiscal support, and the government simultaneously announced spending cuts of approximately $790 million to control the deficit.
