The Chilean economy is recovering quarter by quarter, even though the Monthly Index of Economic Activity (Imacec) fell 2.1% last March, compared to the same period last year, Finance Minister Mario Marcel said Tuesday.
“When we combine the March figure with January and February, we have the complete quarter; we have this quarter’s growth concerning the previous quarter, a growth of 1%.”
“If we take out mining, we have a growth of 1.6%,” the official said in an interview with the local radio station ADN.
“So, we had a recession a little less than a year ago, between the first and third quarter of last year, where we did have negative variations quarter by quarter.”
“That was the most complex moment for the Chilean economy,” he added.
However, the minister pointed out that now the country is recovering quarter by quarter.
“In reality, we are in the opposite situation to a technical recession. The economy, quarter by quarter, is recovering,” he added.
The Imacec fell last March by 2.1% year-on-year, after decreasing by 0.5% in February of this year, the Central Bank of Chile informed on Tuesday.
With information from Xinhua