Chile lowers economic growth forecast

Updated: 2013-07-02 09:18:00

(Xinhua)

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SANTIAGO, July 1 (Xinhua) -- Chile has revised down its 2013 economic growth forecast from 4.5-5.5 percent to 4-5 percent, said the country's central bank said in a report on Monday.

"Economic activities and domestic demand have slowed down somewhat more than the forecast made by the central bank in March, and (the slowdown) was more evident in investment than in private consumption," said the bank in its Monetary Policy Report (Ipom).

However, Chile's economy is "in good shape to withstand the upcoming changes in internal and external conditions," it said.

According to the central bank, trade balance is expected to register a deficit of 1.450 billion U.S. dollars in 2013, with 77.5 billion dollars in exports.

Given the trade forecast, the bank estimated a current account deficit of 4.7 percent of gross domestic product for 2013.