OECD improves GDP growth forecasts for Chile

On 28 November 2016, the OECD released its updated growth forecasts for Chile for 2016, 2017, and 2018. The new macroeconomic outlook is more optimistic, as the organization increased its GDP growth prediction for the Chilean economy from the 1.5 percent it had predicted in June, to 1.7 percent. For 2017, the OECD maintained its 2.5 percent GDP growth forecast, while revealing its 2018 prediction is 2.6 percent (La Nación). While the GDP growth figure for 2016 is set to be Chile's lowest annual GDP growth since the 2009 financial crisis, the improved predictions for 2017 and 2018 reflect that some of the macroeconomic factors that have held back the country's economy, such as low global prices for the commodities that Chile exports, are expected to wane (Emol).