Chile revises up growth forecast for 2013
Release time£º2013-04-10 10:50 Source£º

SANTIAGO,April 2 (Xinhua) -- Chile¡®s economy is expected to grow 4.5-5.5 percent, upfrom the 4.25-5.25 percent range predicted in last December, the central banksaid Tuesday.In recent months, the Chilean economy has witnessed increaseddynamism bolstered by strong domestic demand, the bank¡®s president RodrigoVerger told congress in a report.As a result of consumption growth, the bankprojected a current-account deficit of 4.4 percent of GDP in 2013.

Thebank lowered its 2013 inflation forecast to 2.8 percent from an initial 2.9percent, because the risk of inflation was well-balanced, said the bank chief,while the market expects 3 percent inflation.

Thebank expects a 50 million U.S. dollar surplus in the 2013 trade balance, withtotal export-import volume amounting to some 80 billion U.S. dollars.

Foreigninvestment in Chile is soaring. Foreign direct investment totaled 30.3 billiondollars last year, up 32.2 percent from the previous year. Most of the moneywent to the mining sector, according to the central bank.

In2012, Chile¡®s top foreign investment sources were the United States, Spain, theBritish Virgin Islands, Caiman Islands, Canada, Japan and the Netherlands.