Tendencia y actualidad

The Chilean economic situation remains marked by multiple tensions that limit sectoral performance. Politically, ongoing debates on structural reforms increase investor and consumer caution and raise the risk premium in expectations. Economically, growth is moderate while inflationary pressures persist. In this context, monetary authorities are acting cautiously and prioritizing price stability.

At the external level, several factors exacerbate uncertainty: US trade policy, the Russia-Ukraine conflict, sluggish activity in Europe, and financial strains in China represent ongoing risks. Chile's high exposure to external shocks increases the likelihood of adverse effects on domestic inflation.

Locally, credit interest rates have been significantly higher since 2021 due to monetary tightening. These increases raised housing financing costs to levels not seen since 2009 and shortened typical mortgage terms from up to 30 years to around 20–25 years. A slight easing in long-term rates emerged in late 2024 and early 2025, allowing the mortgage market to function under somewhat more favorable conditions. The Central Bank's Banking Credit Survey indicates that in the second quarter of 2025 banks did not report major changes in credit standards for companies, although some relaxation was observed for consumer credit.

The labor market still shows lasting effects from the health crisis: approximately 2 million jobs were lost during that period. Recovery has been gradual and employment now exceeds pre-pandemic levels in some segments, but the unemployment rate remained elevated, estimated at about 8.7% at the end of the second quarter (according to sector reports).

Consumer and business confidence remain low despite isolated improvements. The Monthly Business Trust Indicator (IMCE), developed by ICARE and UAI, reflects persistent pessimism in sectors such as construction, while mining and trade report more optimism. These confidence levels make many investment decisions conditional, with strategic choices often postponed until macroeconomic clarity improves.

For the real estate sector, second-quarter 2025 data show mixed signals. Housing sales posted a modest 1% year-on-year increase, and demand grew 23% compared with the previous quarter. Apartment sales rose by 2%, while house sales fell by 3%. Housing supply expanded by 4%, reaching about 108,000 available units (approximately 89% apartments and 11% houses). The sales pace weakened: it is estimated that around 30 months would be required to absorb the current supply, exceeding typical balanced-market ranges.

In summary, the Chilean economy is in a period of adjustment. High interest rates, political uncertainty, weak expectations, and a challenging real estate market have many actors adopting a wait-and-see stance. Projects able to tolerate risk and anticipate recovery may capture value under these conditions.

Market participants remain cautious, and opportunities will likely favor those positioned to withstand short-term volatility and benefit from a potential recovery.

Economic landscape and trends in the real estate market in Chile as of June 2025: international uncertainty, local performance better than expected in the first half, copper behavior, and signs of slow and regionalized recovery in housing.

International Scenario: Global Uncertainty and Trade Tensions

The global economy faces challenges due to trade and geopolitical tensions, including the conflict between Israel and Iran. Tariff measures adopted by the United States have increased uncertainty in international trade; so far, the direct impact on Chile has been limited, although consensus is that the U.S. will be significantly affected in terms of prices and economic activity.

Chilean Economy: Better Than Expected in the First Half

In Chile, performance during the first half of 2025 exceeded expectations, driven by exporting sectors. The Central Bank raised its annual growth projection to between 2.0% and 2.75%. The possibility of adjustments in the Monetary Policy Rate remains, with the primary goal of controlling inflation.

Copper: High Demand and New Market Distortions

The price of copper averages $4.29 per pound in 2025, an increase of 3.6% compared to the previous year. However, the measures announced by the U.S. administration, including a 50% tariff on copper imports to the U.S., have created a notable decoupling between the U.S. domestic market and the international market, with internal prices exceeding $5.68 per pound.

Although only 11% of Chile's copper exports are destined for the U.S., these measures have caused logistical and commercial distortions. In response, shipments could be redirected to Asia and Europe, maintaining Chile's leadership in the market but increasing price volatility and supply chain challenges.

U.S., China, and Their Influence on the Local Market

The United States shows inflation close to its target, although its economic policy orientation has been erratic. China is facing weak domestic consumption but is seeing a recovery in industrial production and a reorientation of part of its foreign trade. Both factors affect the stability of the Chilean peso and the demand for raw materials.

Real Estate Market in Chile: Weak, but with Slow Signs of Recovery

The national real estate market continues to face difficulties. According to the Chilean Construction Chamber, home sales in the first quarter of 2025 fell by 18% compared to the previous quarter; during that period, apartment sales dropped by 20% and house sales by 7%. These figures remain below the historical average since late 2021.

Currently, there are over 106,000 units available in the country, of which 42,000 are finished and ready for immediate delivery. An absorption horizon of approximately 36 months is estimated, reflecting the market's slowness.

Regional Behavior: Southern Chile Shows a Slow Recovery

Regionally, the north recorded a 24% drop in sales, while the south experienced a slight recovery of 11%. This rebound coincides with increased interest in fields, land, and estates in areas such as Los Ríos, Los Lagos, Aysén, and Magallanes, where land continues to be viewed as a long-term investment.

New Policies: A Breath of Fresh Air for the Sector?

The subsidy for mortgage rates is beginning to show effects: to date, more than 6,400 homes valued under 4,000 UF have been sold under this benefit. Nevertheless, the expected recovery is moderate, with an annual sales growth projection of 9% compared to 2024, still below the averages of the previous decade.

Overall, the market is moving towards a slow and heterogeneous recovery, conditioned by the evolution of copper prices, public policies, and regional differences in demand.

Inflation in Chile continues to show signs of moderation. As of May 2025, the Consumer Price Index (CPI) has a year-on-year variation of 4.1%, down from the 4.7% recorded in February. Core inflation (excluding food and energy) remains close to 3.8%. This downward trajectory has allowed the Central Bank to keep the Monetary Policy Rate (TPM) at 5%, although during its Monetary Policy Meeting in May, the possibility of a cut in the second half of the year was discussed, should inflationary pressures continue to ease.

Inflation and Monetary Policy

Part of the moderation can be explained by the recent appreciation of the Chilean peso, the drop in oil prices (which fell to ~US$64 per barrel in May), and a general slowdown in the inflation of goods. However, electricity rates continue to adjust upward due to the gradual withdrawal of subsidies implemented during the pandemic.

Economic Activity and Labor Market

The Chilean economy showed mixed signals in the early months of the year. The March Imacec grew by 1.9% year-on-year, while April showed a variation of 2.1%, confirming moderate but stable growth. The Central Bank's projection for GDP 2025 remains in a range between 1.75% and 2.75%, with a midpoint of 2.2%.

Mining, particularly copper, has sustained activity with prices close to US$4.35 per pound, supported by a recovery in global industrial demand. Tourism remains another pillar of growth, driven by a sustained increase in the arrival of foreign visitors, especially from Brazil and Europe.

In contrast, private investment remains weak. Gross fixed capital formation accumulated a decline of 1.2% in the first quarter of 2025. Regulatory uncertainty and the cost of credit continue to weigh on investment decisions, especially in construction and infrastructure.

Unemployment remains high, around 8.6% according to the latest measurement from INE (mobile quarter Feb-Apr 2025), with net job creation being very limited. Labor force participation has grown, but the pace of market absorption has not been sufficient.

Financial Market

The Chilean financial environment shows signs of stability, although with persistent challenges. Demand for credit remains weak. The Bank Credit Survey for the second quarter indicates that 20% of banks perceive lower demand for consumer and housing loans, while granting conditions have remained largely unchanged.

In the mortgage market, rates remain high (around 5.5% annually for 20-year loans), significantly limiting eligibility: only 16% of households currently qualify for a mortgage loan. The SME segment has experienced a slight increase in financing demand, but with stricter credit standards, especially for sectors like construction.

Regarding financial markets, the Santiago Stock Exchange has maintained its upward trend: the IPSA has accumulated an increase of more than 11% so far in 2025, driven by exporters and the better exchange rate. The Chilean peso has appreciated close to 6% against the dollar since February, favored by copper prices and the influx of portfolio capital. This dynamic has helped mitigate part of imported inflation.

International Context

Globally, the scenario remains mixed. The United States showed a contraction of -0.2% in the first quarter of 2025 and keeps its interest rate at 4.25–4.50%. The market anticipates one or two cuts toward the end of the year, which has eased pressure on emerging currencies. The global dollar has weakened slightly, benefiting currencies such as the Chilean peso.

Trade tensions with China and other countries continue but have not escalated significantly. The April court ruling that blocked new tariffs was appealed, and a resolution is expected in the second half of the year. Commodities have shown mixed behavior: while copper remains strong, oil has retreated nearly 8% since January, contributing to a moderation of energy prices.

In South America, rising prices for commodities such as lithium and soy have improved the external accounts of several countries, but political instability in key economies (such as Argentina and Peru) continues to generate volatility. Chile, for its part, has maintained macroeconomic stability, allowing it to continue attracting financial investments in fixed and variable income.

Conclusions and Projections

Chile is undergoing a year of moderate growth, with inflation on the decline and a still fragile labor market. Projections point to inflation finishing the year below 4% and GDP growing around 2–2.5%. While private consumption and investment show faint signs of recovery, external activity (copper and tourism) remains the main support for growth.

The financial market offers specific opportunities: stocks have performed well and could continue to benefit if rates drop slightly toward the end of the year. However, real rates remain low or negative, making traditional deposits less attractive. For investors, the recommendation is to diversify, monitor external risks, and stay alert for signs of rate cuts or additional fiscal stimuli.

In the real estate market, those with financing can find good buying opportunities in a declining price environment. For developers, however, the outlook will remain complex for at least the rest of 2025. Sales remain depressed, and the recovery of demand will be slow as income and access to credit do not significantly improve.

In summary, the Chilean economic context remains in an adjustment phase. The macroeconomic fundamentals are solid, and institutional stability continues to be a key anchor, but external risks—global trade policies, international financial conditions, and commodity prices—remain relevant. Strategic decisions in the financial and real estate sectors must continue to consider a volatile and cautious environment.

In April 2025, the real estate and agricultural land market in Chile presents a mixed outlook, marked by challenges in access to financing and regulatory uncertainty, but also by emerging opportunities in sustainability, digitalization, and a growing demand in the rental market.

General Economic Context

The Chilean economy shows signs of moderate recovery. The Central Bank projects GDP growth between 1.5% and 2.5% for 2025, driven by increased public spending and a rebound in the external sector, although this is offset by lower household and business spending.

The annual inflation is expected to close this year at 4.8%, decreasing to 3.6% in 2025, and reaching the target of 3% by early 2026.

The Central Bank has maintained the key interest rate at 5% to balance inflationary pressures and support economic recovery.

Real Estate Market: Between Restrictions and Adaptations

Mortgage Financing: The Major Bottleneck

Access to mortgage financing remains a challenge. Currently, only 17% of households in Chile can access a mortgage loan, due to high interest rates and greater bank requirements.

The application of VAT on home sales continues to put pressure on prices, especially in new projects, affecting buyers and the pace of investment in new developments.

Digitalization and Sustainable Construction

The sector has begun to transition towards more efficient models. The use of digital tools for buying and selling, property management, and promotion has increased. At the same time, there is a rise in the construction of sustainable housing, incorporating energy efficiency systems, in response to greater environmental awareness among consumers and more stringent regulations.

Rise of Rentals

The inability to buy has led many families to turn to rentals. An increase of between 3% and 5% in rental prices is projected for 2025, especially in well-connected urban areas with good infrastructure and services. This trend also drives the development of residential rental projects (multifamily), particularly in Santiago and metropolitan regions.

Prospects 2025: What to Expect?

A slight reactivation of the real estate market is anticipated during the second half of 2025, especially in new apartments, driven by potential government incentive measures, subsidies for mortgage payments, and an expected decrease in interest rates.

Agricultural Land Market: Revaluation and New Configuration

The agricultural land market in Chile has shown notable revaluation over the past decade. According to an analysis by Colliers, rural land prices have increased an average of 45% in the last ten years, driven by the expansion of the agricultural sector, renewable energy projects, and the scarcity of available urban land.

Fiscal Revaluation: Pressure on the Agricultural Sector

Starting January 1, 2024, Chile has experienced a significant increase in the value of agricultural properties, with an average increase of 44% in the fiscal valuation of these properties. This process has raised concerns among farmers, who now face higher tax burdens in an already challenging economic context.

Subdivisions and Land Fragmentation

There has been a trend towards subdividing agricultural land into smaller plots. Nationally, 80.1% of the new registrations from 2008 to 2023 correspond to lands smaller than five hectares, reflecting a process of land atomization. This phenomenon is more pronounced in the Maule and Biobío regions.

A Phase of Adjustments and New Opportunities

The current outlook of the real estate and agricultural market in Chile in April 2025 faces significant challenges, but also shows signs of adaptation and resilience. The combination of effective public policies, technological innovation, and a focus on sustainability will be key to overcoming current obstacles and seizing emerging opportunities in both sectors.

In recent weeks, the economy and real estate market in Chile have shown movements and trends that reflect the complexity of the current landscape. Below are the most relevant aspects.

Unemployment in Chile

The National Institute of Statistics (INE) reported that the unemployment rate in Chile reached 8.4% during the mobile quarter from December 2024 to February 2025. This implies a decrease of 0.1 percentage points compared to the same period last year, although it represents an increase of 0.4 points from the previous mobile quarter. The variation is explained by an increase in the labor force of 0.8% and in employed individuals by 0.9%.

Sectors such as transportation, financial activities, and public administration fueled job creation, while trade, manufacturing, agriculture, and fishing recorded declines. The informal employment rate fell by 1.3 percentage points, standing at 26.1%.

Consumer Confidence

Consumer confidence among Chileans decreased significantly in March: only 28% of the population believes that the economy will improve, and 26% feel secure enough to invest.

Real Estate Market

The real estate market faces significant challenges. According to the Chilean Chamber of Construction (CChC), the sale of new homes dropped by 14% over the past year. After a sharp decline in 2022, demand showed a slight recovery in 2023 with a 2% increase in sales, but the general trend remains concerning for the sector.

In terms of prices, a general decrease is observed: in the Metropolitan Region, apartments dropped by an average of 4.3%, and single-family homes fell by 3.5%. Communes like Vitacura saw sharper declines, with a decrease of 14.53% in the value per square meter of new apartments.

On the other hand, mortgage interest rates average 4.29%, their lowest level in 16 months. This reduction could incentivize home buying and help stimulate the market in the coming months.

Legislative Initiatives

In the legislative arena, the Chamber of Deputies approved a bill aimed at reducing mortgage payments for the purchase of new homes with 115 votes in favor. The initiative will now be reviewed by the Senate Finance Committee.

Investment and Regional Development

The Development Bank of Latin America and the Caribbean (CAF) announced new financing of $1.445 billion for projects in Argentina, Brazil, Chile, El Salvador, and Honduras. The resources will focus on infrastructure, urban mobility, logistics, education, and issues related to migration law, aiming to boost regional development.

Fiscal Deficit and Public Employment

Chile faces a notable fiscal challenge, with public debt exceeding 42% of GDP and a growing deficit. The increase in public employment, coupled with questions about efficiency, has not substantially improved the quality of life.

It is proposed to measure the productivity of the public sector and adapt performance bonuses, starting with key sectors such as education and health, to optimize resources and contribute to reducing the deficit.

Economic Outlook

The Central Bank of Chile projects economic growth for this year between 1.75% and 2.75%. However, external and internal factors could affect these estimates, so surveillance of key macroeconomic indicators will continue.

In summary, the economy and real estate market in Chile are going through a period of adjustments and challenges: some indicators show signs of improvement, while others highlight the need for policies and measures that promote stability and sustained growth.

In December 2024, the global political landscape was marked by significant events in various regions around the world:

United States: Elections and Governance

Political focus in the U.S. centered on preparations for Ron DeSantis's presidential inauguration, who won the November presidential elections. His transition team has been announcing the main priorities of his administration, focused on tax reforms, border security, and redefining international alliances. Additionally, Congress remains divided, with Republicans controlling the House of Representatives and Democrats holding a slim majority in the Senate, anticipating legislative tensions in the coming year.

The debate over the federal budget has also intensified, with the possibility of a government shutdown if agreements are not reached before the January deadline. Climate policies and technology regulation are other key issues on the agenda, especially with pressure from activists and companies to establish clearer legal frameworks for artificial intelligence and clean energy.

Latin America:

Chile: Nationally, the Boric administration has faced criticism over progress on tax and pension reforms, which still encounter resistance in Congress. On the other hand, the municipal elections in November marked a resurgence of right-wing parties, which could complicate the implementation of progressive policies in the coming years.

Argentina: Newly elected President Javier Milei continues to implement his controversial economic reforms, including the dollarization of the economy, while facing social protests and scrutiny over the speed of the measures.

Mexico: Andrés Manuel López Obrador concludes his term amid debates about the legacy of his social and economic policies, while the country prepares for the 2025 elections.

Europe: Instability and Cooperation

In Europe, the economic crisis remains a central issue, especially after data confirmed a growth slowdown in Germany and France. The conflict in Ukraine continues to be a priority on the European Union's agenda, which in December approved a new package of economic and military aid for Kyiv, reinforcing its support against Russia.

Furthermore, the recent COP29 Climate Summit in Rome highlighted divisions among member countries on climate goals, with nations like Poland and Hungary resisting a rapid energy transition due to their dependence on coal.

Asia and the Middle East: Tensions and New Alliances

China: The government of Xi Jinping announced new restrictions on technology exports in response to Western sanctions, intensifying the trade war with the U.S. Additionally, outbreaks of social discontent due to rising youth unemployment and regulatory measures have generated concern within the country.

Israel and Palestine: In the Middle East, the conflict between Israel and Palestine escalated in December with a surge of violence in Gaza and the West Bank. Attempts at mediation by the UN have made little progress, while the international community calls for a firmer solution.

India: After its prominent presidency at the G20, India seeks to consolidate its position as an emerging leader in global diplomacy, attracting foreign investment and positioning itself as a counterbalance to Chinese influence in Asia.

Africa: Crises and Reforms

In Africa, humanitarian and political crises continue in regions like the Sahel, where armed conflicts have displaced thousands of people. However, some countries like Rwanda and Kenya have shown significant economic advances, attracting investments in technology and renewable energy.

Global Events:

Climate Change: COP29 generated modest agreements on issues such as climate financing, although disagreements about emission reduction targets persist.

Technology: Globally, discussions about the regulation of artificial intelligence and cybersecurity have gained relevance, with countries seeking to balance technological innovation and the protection of individual rights.

In summary, December 2024 was marked by political transitions, geopolitical tensions, and efforts to address climate and technological challenges worldwide, defining a year-end filled with challenges and uncertainties for the coming months.

Alejandro Santana, candidate of Renovación Nacional (RN), won the second round of the regional governor election in Los Lagos, securing 51.8% of the votes against Claudia Reyes of the Republican Party, who obtained 48.1%. The result was significant for the regional right as it faced two conservative candidacies in a polarized context.

Santana, a former deputy, indicated that he would focus his management on collaboration with mayors and regional councilors, prioritizing economic development, infrastructure improvement, and social cohesion in the region.

The Battle of the Rights in the Los Lagos Region: Alejandro Santana (RN) vs. Claudia Reyes (Republicans)

The election for regional governor in Los Lagos presented itself as a duel between two currents of the right: Alejandro Santana, from Renovación Nacional (RN), and Claudia Reyes, from the Republican Party.

First Round Results and Electoral Context

In the first round, Santana led with 30.87% of the votes, supported by his experience as a former deputy and his connection to the area. Reyes obtained 23.28%, establishing herself as an emerging figure thanks to her work as an environmental advisor and her experience as a councilor in Puerto Montt.

Both candidates channeled part of the public discontent towards the previous administration, affected by the Convenios case, which revealed questionable practices in public management.

Proposals and Key Issues

Security was a central issue in the debate. Reyes proposed a comprehensive strategy that included the participation of public and private actors; Santana, on the other hand, emphasized the urgency of combating drug trafficking and improving the perception of security in the region.

In economic matters, both proposed measures to enhance investment and eliminate administrative barriers affecting relevant sectors, such as aquaculture.

The discussion on experience and capacities was also relevant: Santana highlighted his parliamentary experience and his teaching work, while Reyes emphasized her practical approach to environmental issues and her closeness to local communities.

Regional and National Implications

The result will have effects on the internal dynamics of the Chilean right: the competition between RN and the Republicans could generate tensions and agreements heading into the next presidential elections, where figures like José Antonio Kast and Evelyn Matthei are mentioned.

Santana takes office with the promise to prioritize security, economic development, and infrastructure, as stated during the campaign.

Claudio Orrego, who ran as an independent, achieved a narrow re-election as governor of the Metropolitan Region on November 24, 2024, in an electoral context marked by polarization and debates about ethics and security. This result makes him the first elected regional governor to complete a second term, a significant milestone for territorial planning.

Results and Context

The election reflected local tensions regarding security, public administration, and the environment. Orrego's victory comes at a time when the role of regional governors continues to be defined as part of the country's decentralization agenda.

Campaign Proposals

Orrego focused his campaign on administrative decentralization, strengthening public security, and measures to address the environmental crisis, emphasizing waste management and air quality. These initiatives were presented as part of a plan to improve regional governance during his second term.

His main rival, Francisco Orrego, promoted a model of mass surveillance inspired by Buenos Aires, a proposal that sparked debate over effectiveness, privacy, and scope in public space. Claudio Orrego responded that such systems already exist in the region, although he acknowledged the possibility of improving them.

Surveillance Debate

Evelyn Matthei, mayor of Providencia and ally of Francisco Orrego, defended the adoption of the Buenos Aires model. According to Matthei, the Buenos Aires scheme includes "15,000 to 20,000 interconnected cameras," a standard that, she said, Chile has not yet achieved. Matthei pointed out that it is a goal to be built, contrasting with Claudio Orrego’s criticisms.

Controversies and Ethics

Transparency and ethics were central to the campaign. Claudio Orrego made allegations regarding supposed ethical breaches by his opponent, accusations that Francisco Orrego labeled as a strategy to divert attention. In his defense, Orrego emphasized his more than three decades of public service and stated that he had not received any remarks from the Comptroller's Office regarding irregularities.

Implications and Challenges

Media outlets such as BioBio Chile have highlighted the political implications of the re-election, while CNN Chile underscored the need to strengthen the figure of the regional governor as a pillar of decentralization, a pending debt of the Chilean political system.

In the coming years, Orrego will face concrete challenges: modernizing public security, improving urban infrastructure, and strengthening inter-municipal coordination, elements that will condition his ability to consolidate a legacy in the Metropolitan Region.

The re-election opens a window for implementing long-term measures but also raises public expectations for clear results in security, the environment, and public management.

The Chilean real estate market is going through a challenging period, with a contraction in demand and rising costs. High mortgage rates, inflation, and increased restrictions on access to credit have reduced options for buyers and investors, leading to less dynamism in the residential sector.

Current Market Situation

During the third quarter of 2024, home sales recorded a slight uptick of 3% compared to the previous quarter, although they remain approximately 15% below levels from the previous year. In the Metropolitan Region, there is an available stock exceeding 38,000 units, reflecting a slow absorption rate. The average price per square meter in new projects varies by municipality: notable increases are observed in Macul (+8%) and Ñuñoa (+5%), while established municipalities like Santiago and Las Condes show stabilized prices or slight decreases.

Regulations and Restrictions

Recent changes in urban planning regulations and restrictions on building permits, implemented in municipalities like Viña del Mar and Estación Central, have affected the sector's dynamics. These measures aim to improve urban planning and development quality, but they also temporarily limit new projects, which may disrupt the balance between supply and demand in the short term.

Alternatives for Investors

In the current scenario, investors are exploring alternatives such as real estate crowdfunding, diversified investment funds, and bets on foreign markets. These strategies allow for risk distribution and adaptability to more restrictive local conditions, maintaining return options adjusted to risk.

Future Projections

The market is expected to stabilize during 2025, with a potential reduction in available stock and price adjustments varying by municipality and property type. Recovery will depend on macroeconomic developments and public policies that facilitate access to housing and the reactivation of credit.

The real estate market in Chile is in transition: it faces significant challenges, but it also offers opportunities for those who adapt their strategies to the new conditions.

This Sunday, Chilean citizens have an appointment at the polls to participate in a key electoral process: the second round of elections for Regional Governor (GORE) in regions where no candidate received an absolute majority in the first round. In Chile, voting is mandatory for all registered voters, as established by law.

Who is required to vote?

Registered citizens: all individuals over 18 years of age with the right to vote must fulfill this civic duty, except those who are eligible to be excused.

Penalties for not voting:

Failing to vote can incur fines ranging from 0.5 to 3 UTM (Monthly Tax Unit), as determined by the electoral judge of the corresponding jurisdiction.

Valid exceptions:

Those who are outside the country, present serious illnesses, or have other justified causes before the electoral court are exempt.

What does a Regional Governor do?

The Regional Governor (GORE) is the highest authority of a regional government in Chile and has essential functions for the development of each territory. Elected democratically for a term of four years, the GORE plays a key role in resource management and defining regional priorities.

Main functions of the Regional Governor:

• Regional planning and development: formulates and approves development plans and investment projects in areas such as infrastructure, transportation, education, and health.

• Resource management: manages the regional budget, allocating resources to fund initiatives that benefit the community.

• Coordination with other levels of government: collaborates with municipalities, the Central Government, and other institutions to ensure the harmonious development of the region.

• Civic representation: serves as the main spokesperson for the interests and needs of the region's inhabitants, promoting public policies that reflect their priorities.

Second Round GORE:

Why is it important to vote? The electoral second round for Regional Governors occurs when no candidate receives more than 50% of the valid votes cast in the first round, or when the top two candidates compete for the relative majority. In this instance, the two highest-voted candidates face off to determine who will assume office.

What is at stake?

The Regional Governor elected in this second round will be responsible for leading the region's development in the coming years. Their ability to manage resources, coordinate efforts, and represent citizen interests is crucial for improving the quality of life for residents.

Participation is key:

Every vote counts, as these elections will define not only who will lead the region but also the focus of local public policies. This is the moment when citizens can make their voices heard and decide the direction of their region.

Get informed about the candidates, check your polling place, and fulfill your civic duty. This Sunday, participate and make your choice to contribute to the development of your region and the country.

In November 2024, economic trends in Chile show mixed signals, with a rebound in some areas but also structural challenges. Internationally, global economies face uncertainties while seeking to maintain growth.

Chilean Economy: Moderate Rebound and Persistent Risks

The IMF and the OECD have raised growth projections for Chile in 2024, placing them between 2.3% and 2.5%. This slight increase reflects a recovery after years of economic slowdown, supported by stabilizing inflation and a more flexible monetary policy from the Central Bank. However, challenges remain: private investment continues to be weak, particularly in sectors like construction, impacted by higher costs and more restricted access to financing. Additionally, exports face uncertainty due to the slowdown in China, Chile's main trading partner.

International Outlook: Contrasts and Adjustments

Globally, Latin America shows signs of recovery. According to the IMF, the region is expected to grow by 2.1% in 2024, with Brazil's resilience —projected at around 3%— driven by an increase in private consumption. However, economies like Mexico are showing a slowdown, influenced by lower domestic demand. In developed economies, growth remains limited by more restrictive monetary policies and geopolitical tensions. The United States and Europe are seeking to stabilize their economies in a context of global uncertainty, while concerns about public debt sustainability and energy inflation are increasing.

Projections for 2025 and Beyond

Globally, emerging economies are expected to lead growth in the coming years, driven by recovery in technology and manufacturing sectors. Chile, for its part, must focus on diversifying its exports and encouraging investment in infrastructure to consolidate sustained growth in the medium term.

The November balance demonstrates that both Chile and the rest of the world are in a stage of economic transition, where strategic planning will be crucial to face an uncertain yet opportunity-filled scenario.