SANTIAGO (Reuters) – Chile’s authorities is proposing a 2.7% annual improve in its 2025 finances, President Gabriel Boric mentioned on nationwide TV on Sunday, saying the federal government will enhance pensions and give attention to growing nationwide safety.
Boric mentioned the finances would give attention to growing security for Chilean residents, with a finances for justice and safety $1.5 billion greater than this 12 months’s, serving to put extra police on the streets, elevate pay for officers and management crime in prisons.
The federal government would additionally look to restrict migration, he mentioned. Boric has hardened his tone on unlawful migration in current months, saying he’ll expel migrants who haven’t attended the official biometric registration course of.
Boric mentioned the finances would additionally assist enhance pensions, the well being sector, schooling and tradition.
“We are forging a sustainable economy that grows and generates more wealth for everyone,” Boric mentioned.
Earlier this month, Chile’s central financial institution mentioned it expects inflation to shut this 12 months at 4.5% earlier than slowing to three.6% subsequent 12 months, whereas trimming its financial progress forecast to between 2.25% and a couple of.75% from a previous forecast of as much as 3%.