Chile: Bachelet announces $ 500 million plan to strengthen economy
This measure is part of an emergency initiative called “Plan to strengthen investments 2014”, which the government intends to implement during the last four months of the year.
«These measures aim to strengthen and revive public investment in the four months remaining this year,» said the Chilean president.
Bachelet explained that half of the planned funds will come from reallocations of the public budget and the rest will correspond to higher revenues from tax reform. This is being processed in Congress and should be approved shortly.
The plan will have six axes: the effective execution of the budgets of all the ministries, the funds already allocated for new projects in the state copper company Codelco and BancEstado, more resources for infrastructure, public works concessions and financial support for small and medium-sized enterprises (SMEs).