Chile’s Piñera presents 2022 budget bill with strong focus on reducing fiscal deficit

The budget would reduce spending by about 22.5% from the total planned for 2021, including emergency measures, but still represents a 3.7% increase over the 2021 base budget initially approved last year

RIO DE JANEIRO, BRAZIL - Chilean President Sebastián Piñera on Thursday (23) presented a proposed US$82.1 billion budget for 2022 that he said would begin to bring the world's largest copper producer's growing deficit under control after more than a year of emergency spending to combat the coronavirus pandemic.

In a televised speech, the center-right ruler said the budget would reduce the structural deficit from 11.5% of the gross domestic product in 2021 to 3.9% of GDP in 2022.

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