Chile prepares $4 billion plan to reactivate economy

Chile prepares $4 billion plan to reactivate economy

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The Chilean government expects to invest $4 billion in public projects to help the nation reactivate its economy, following the Covid-19 pandemic, according to the Chilean Steel Institute (ICHA), which regulates steel norms.

ICHA said the $4 billion investment the Chilean government aims to make just to pay for public works is part of a larger $12 billion special fund, which should also boost the local economy.

Additionally, the private sector is expected to invest an additional $20 billion in energy and mining projects.

“The idea is to make an investment shock that produces a (certain) level of activity that allows us to make our economy work,” said the minister of public works, Alfredo Moreno.

Moreno also said he’s open to talking with ICHA and other entities to set up a working group to discuss the eventual review of existing local steel norms.

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