Economist and former Central Bank vice president Pablo García said the difference in the public debt projection is merely a matter of assumptions, not a calculation error. He stressed that the key issue is the ongoing fiscal stress in the Chilean economy.
In statements to Radio13C, García explained that at year-end the fiscal balance is reviewed with more available data. Using that difference to project debt forward results in a higher figure.
The president of the National Commission for Evaluation and Productivity considered four-year projections to be “quite immaterial and secondary”. Instead, he noted that fiscal stress is significant and ongoing.
García recalled that Finance Minister Jorge Quiroz mentioned the possibility of seeking congressional authorization to borrow more. He said this places full responsibility on the current administration, President Kast and Quiroz himself.
