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Alfredo Ovalle on the current economic situation: "Some sectors are going to have to tighten their belts"

The president of the Production and Trade Confederation has called for economic policies not to be determined by political groups.

01 de Julio de 2008 | 13:56 | El Mercurio Online

SANTIAGO.- The president of the Production and Trade Confederation (known as the CPC), Alfredo Ovalle, said today that some sectors will have to “tighten their belts” amid the country’s current economic situation.


The business leader expressed regret for the country’s industrial progress figures, as well as the unemployment rate of 8%.


Nevertheless, he emphasized the greater quantity of employment opportunities that exist these days and reiterated that youth represent the least dynamic sector of the population.


For this reason, the CPC leader called on the country to “project these concerns and try to look for long-term solutions”.


Ovalle added that economic policies should not be determined by the current political administration, nor by current political problems, such as the price of oil.


Concerning the June CPI and May monthly economic indicator (IMACEC), which will be revealed within the next few days, Ovalle indicated that he believes interest rates are likely to be raised at the July Monetary Policy Meeting.

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