December 2, 2019 / 11:26 PM / 11 days ago

Chile announces $5.5 billion economic recovery plan; growth estimate slashed

SANTIAGO (Reuters) - Chile’s finance minister on Monday announced plans to implement a $5.5 billion recovery plan, including $2.4 billion on infrastructure, after the economy posted the single biggest contraction in a decade amid riots and mass protests.

Finance Minister Ignacio Briones also said the ministry was slashing the official economic growth estimate for this year to 1.4% due to the impacts of recent unrest. In early November, the government had put 2019 growth at 2%.

“These aren’t just numbers. This means thousands of companies and jobs today are at risk,” Briones told a news conference.

Reporting by Fabian Cambero, Writing by Mitra Taj; Editing by Leslie Adler

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