Economy
Chile faces economic crisis and record unemployment under Kast administration's austerity plan
Unemployment rose to 9.6% and mining production suffered a historic drop in August, while the government maintains its fiscal adjustment and public spending cut plan.
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The essentials of this story
- What happened
- Chile faces an economic slowdown, GDP contraction, inflation, and historic unemployment of 9.6%.
- Who is affected
- Chilean citizens, vulnerable households, small businesses, and productive sectors such as mining and construction.
- What changes
- A tax reform is implemented that reduces the corporate tax, the austere budget for 2027 is debated, and a government employment plan is projected to reactivate the economy.
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