De Gregorio: Economic growth will fall below expectations in 2009

SANTIAGO.- According to an announcement made today by Central Bank president José de Gregorio, growth of the Chilean Gross Domestic Product (GDP) will be lower this year than the estimate of between 2 and 3% communicated by the institution in January.

Analysts have consistently been reducing their estimates with regards to the Chilean economy, bringing the figure close to 0 for 2009, as a result of the global crisis, compared to an increase of 3.2% in 2008.

"We still don't have a definitive and complete grasp on the situation that would allow us to state with some kind of reasonable probability what kind of growth we will see in 2009", stated De Gregorio.

"Nevertheless, it is not very difficult to predict that the figure will be lower than the 2 to 3% range estimated in January. How much lower still remains to be seen", he added while giving a speech at a seminar organized by the Instituto de Políticas Públicas Expansiva UDP and the Instituto Libertad y Desarrollo.