70274
Chile Credit Rating Downgraded
Chile Credit Rating Downgraded

Chile Credit Rating Downgraded

Chile Credit Rating Downgraded

Fitch Ratings downgraded Chile’s credit rating to ‘A,’ from ‘A+,’ but raised the country’s outlook to ‘stable,’ from ‘negative,’ saying that the extended low economic growth period and lower copper prices should hurt public accounts, RTTnews reported. “Chile’s period of weak economic growth following the mining supercycle is lasting longer than expected,” the credit rating agency said. The forecast is that the gross domestic product will grow 1.4% in 2017, after rising 1.6% in 2016, in contrast to previous forecasts of moderate recovery. Fitch argued that the main reason for the weakness of the economy in 2017 was the strike at the Escondida copper mine in the first quarter. However, the mining production also stagnated elsewhere, both by temporary and structural factors. Also, growth in non-mining activity slowed down, and investments remained weak, despite resilient consumption. According to Fitch, Chile’s GDP should grow by 2.4% in 2018 and 2.8% in 2019, amid better external conditions and after November’s elections.

 

Short URL : https://goo.gl/fYbUhw
  1. https://goo.gl/Q1Rhyt
  • https://goo.gl/V4bsJk
  • https://goo.gl/8dbpe8
  • https://goo.gl/LtxkvR
  • https://goo.gl/dmfX1h

You can also read ...

 An overwhelming 86% of Germans believe their economy is doing well, up from 75% last year.
Conditions for investors around the world are getting worse....
Greece Remains Under Supervision
Greece will remain under supervision after it exits its...
Tax Reform  Can Boost  US Economy
The American electorate is more than ready for Washington...
South Korea’s jobless rate has risen steadily in recent years.
South Korea’s unemployment rate has risen steadily in the past...
Britons have been borrowing heavily through personal loans and credit cards over the last 18 months.
Consumer borrowing grew at almost 10% in August, official...
Pak GDP Growth Predicted at 10% Over 10 Years
Researchers from Harvard University’s center for international...
Jordan Economy Continues to Grow
While the public sector continues to play a prominent role in...
China Rust Belt Opens Doors
Trucks carrying hi-tech car components rumble in and out the...

Add new comment

Read our comment policy before posting your viewpoints

Image CAPTCHA
Enter the characters shown in the image.

Trending

Googleplus