Chile

In 1999, the Chilean economy was convalescing from the external shock and the adjustment policies of the previous year. This translated into decreases of 1.1 % in GDP and of 9.9% in domestic demand (17% in investment), along with higher unemployment, which peaked in August at a nationwide rate of 11.5%. The government responded to the fall in private spending by expanding public spending more than had originally been planned. This, added to the drop in government revenue, generated a global deficit in the non-financial public sector (1.6% of GDP) for the first time in 12 years. Nevertheless, the year ended on a brighter note, as the balance in external accounts was regained and the inflation rate barely topped 2%.

Sustainable Development Goals:

Decent Work and Economic Growth

Industry, Innovation and Infrastructure

Peace, Justice and Strong Institutions