Chile’s President Proposes 2.7% Spending Increase in 2025 Budget

SANTIAGO – The Chilean government has proposed a 2.7% annual increase in its 2025 budget, as announced by President Gabriel Boric during a national television address on Sunday. The budget aims to enhance pensions and prioritize national security.

Boric emphasized that the budget would allocate an additional $1.5 billion for justice and security compared to the current year, with plans to increase police presence on the streets, raise salaries for law enforcement officers, and tackle crime in prisons.

Additionally, the government is looking to restrict migration, with Boric adopting a firmer stance on illegal immigration in recent months. He stated that individuals who have not participated in the official biometric registration process may face expulsion.

Beyond security measures, the budget is also intended to support pensions, the healthcare sector, education, and cultural initiatives.

"We are forging a sustainable economy that grows and generates more wealth for everyone," Boric remarked.

In related news, Chile’s central bank has projected that inflation will end this year at 4.5% and decline to 3.6% in the following year. The bank has also lowered its economic growth forecast, now estimating growth to be between 2.25% and 2.75%, down from a previous projection of up to 3%.