Chile’s Central Bank Says Economy Will Shrink More Than Expected in 2020

The bank also predicted that GDP would rebound between 5.5% and 6.5% in 2021, a stronger recovery than initially expected.

RIO DE JANEIRO, BRAZIL - Chile’s Central Bank on Wednesday said the economy of the world’s top copper producer would contract by 5.75% to 6.25% in 2020, a sharper fall than previously predicted, as the coronavirus continues to weigh heavily on its output.

The bank, however, predicted gross domestic product (GDP) would rebound between 5.5% and 6.5% in 2021, according to its Ipom quarterly economic report; this is a stronger recovery than initially expected.

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