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Chile's Economy Booms Despite Global Economic Downturn
Sep 21,2011 16:43CST
industry news
Source:SMM
Despite a gloomy picture for the global economy, Chile's economy will expand 6.5 percent this year.

SANTIAGO, Sept. 20 (Xinhua) -- Despite a gloomy picture for the global economy, Chile's economy will expand 6.5 percent this year, Chilean President Sebastian Pinera said Tuesday.

The latest growth forecast is higher than April's 5.9 percent issued by Chilean government.

"This year we are going to grow 6.5 percent while next year we will grow about 5 percent. These are great achievements that sometimes we don' t see," Pinera said at an official event here.

Pinera said the Chilean economy is healthy: new jobs are created, and investment, exports and salaries are all increasing.

Despite a booming economy, Pinera said the South American country is not immune to the impact of the ongoing international economic crisis.

"We are not shielded against what will happen to the world economy because we are an open economy, which is integrated in the world," Pinera said.

Pinera also announced the launch of a new system "ChilePays," which will obligate all government offices as well as the largest private enterprises to pay their bills during a 30-day period.

 

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