| Chile posted a fiscal deficit of 0.3 percent of estimated gross domestic product in the first half of 2015, the government's budget office reported on Thursday, due to weak copper revenue. The deficit was the equivalent of $792 million. Chile is the world No.1 copper producer and has suffered as prices languish at multiyear lows due to worries over demand in key buyer China.
Meanwhile, the country's rainy day sovereign wealth fund fell in value to just under $14 billion by the end of June, compared to $14.7 billion at the end of last year. The fiscal deficit in the second quarter was 0.4 percent after a slim 0.1 percent surplus in the first three months of the year, the budget office said...............................................Full Article: Source |