The latest economic growth figures ratify that Chile is quickly beginning to get over the effects of the international financial crisis. Confirming this trend, a study by the Brazilian center Fundación Getulio Vargas, together with the economic research center at the University of Munich, Germany, ranks the country in second place in the Economic Climate Index (ICE) for the region.
The measurement, which is an average between the current situation index (ISA) and the expectations index (IE) for the next six months, was carried out by 139 experts in 17 countries and awards Chile 7.4 points out of a maximum of nine, surpassed only by Brazil in Latin America, with a total score of 7.8 points.
Compared to the previous survey last October, the outlook for investments and business in Chile has improved significantly, as on that occasion the country only came in fourth, with an average score of 6.2 points. “The change is mainly due to improved assessments of the current situation in the economy,” says the report published on the foundation’s website.
Of the 11 Latin American countries analyzed, five of them are in the middle of an economic surge, including Chile, accompanied by Argentina, Brazil, Peru and Uruguay.
Meanwhile, the regional economic climate index was 5.6 points, the highest level since July 2007, thus confirming the economic recovery of Latin America, a region that in 2009 obtained its worst ICE score ever since the survey began in 1990, with a score of 2.9 points.
The medium term outlook is also good. According to experts, Chile will maintain its position for the next six months, with a score of 8.6 points on the expectations index. Other countries with over eight points on the expectations index are Peru, Paraguay and Colombia.
The Chilean economic boom has been highlighted in important publications and the international mediaand the country is expected to attain economic development soon. The country’s economic liberalization has been fundamental to this surge, and is a process that positions the country as one of the most open economies in the world.