Chile’s Central Bank forecasts economy to decrease by 5.75% to 6.25% in 2020

Chile’s Central Bank forecast that the economy of the world’s top copper producer would decrease by 5.75% to 6.25% in 2020. However, the Central Bank said in its Ipom quarterly economic report that gross domestic product (GDP) would rebound between 5.5% and 6.5% in 2021, a stronger recovery than it had initially expected. The more favorable scenario next year will be bolstered by a higher copper price of $3.20 per pound in 2021, the bank predicted.

Source: Financial Post