The Chilean government on Friday confirmed its optimistic economic forecast for next year, with projected GDP growth of nearly 5 percent.
Rising consumption will be one of the main motors of the growth, Finance Minister Nicolas Eyzaguirre said at a press conference Friday, flanked by Economy Minister Jorge Rodriguez and Mining Minister Alfonso Dulanto.
The economy will be driven mainly by the dynamism of Chile's exports, particularly copper, said Eyzaguirre.
According to the finance minister, the upturn in the global economy has allowed Chile to stabilize its growth trajectory, noting that his country's gross domestic product gained 3.2 percent this year after growth of only 2.1 percent in 2002.
"With the information currently available, we can confirm growth expectations for 2004 in the high end of the range between 4 percent and 5 percent," said Eyzaguirre.
The government's first official forecast for next year, the basis for the 2004 budget, predicted 4.4 percent GDP growth.