Monday, 28 Sep 2020 07:24 AM MYT
SANTIAGO, Sept 28 — Chilean President Sebastian Pinera announced yesterday the launch of US$2 billion in subsidies aimed at creating new jobs or recovering those lost during months of lockdown aimed at stemming the coronavirus pandemic in the globe's top copper producer. The package, which seeks to create one million new jobs, is the latest round of stimulus aimed at revitalising Chile's frail economy.
The lockdown associated with the virus has hammered Chile's commerce, service and tourism sectors and driven unemployment to over 13 per cent , its highest level in a decade. The central bank projects an economic contraction of between 4.5 per cent to 5.5 per cent this year.
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