Chile | Fiscal expenditures decelerated in October

Government expenditures grew 2.7% YoY, but below last year’s print (+9.7% YoY), driven by a lower rate of growth in fiscal investment. Meanwhile, revenues came out higher than expected after growing +8.6% YoY. All in all, given the positive surprise in fiscal incomes we are raising our forecast for the fiscal deficit to 2.4% of GDP this year (from -2.9% previously).

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