SANTIAGO, May 4 (NNN-Xinhua) — Chile’s economy grew 6.4 percent in March compared to the same month of 2020, exceeding government expectations, the Central Bank of Chile reported.
According to the bank’s Monthly Economic Activity Index (Imacec) released Monday, all components of the indicator saw growth, with services and trade outperforming other sectors.
“This outcome was explained, in part, by the lower comparison base of March of the previous year, a period that marked the beginning of the health emergency associated with COVID-19,” the report said.
Since November 2020, the Imacec registered no growth until now, marking the highest growth since April 2018, when the indicator also hit 6.4 percent.
Chilean Finance Minister Rodrigo Cerda welcomed the figure, saying via Twitter that “despite the restrictions and that we continue to face the enormous health, economic and social impact of the pandemic, economic activity in March grew by 6.4 percent.”
He added, “This is good news for the economy and a boost for recovery, but there is still a long way to go. This light of hope motivates us to continue working harder to keep pace with growth that is not guaranteed, and also to recover lost jobs.”
Economy Minister Lucas Palacios said, “We are gradually recovering from the steep drop last year, thanks to the better external scenario, state aid and family efforts.”
As the vaccination campaign continues to make progress and measures to guard against the novel coronavirus disease are maintained, “we will be able to open new spaces for economic activity, productivity and recovery of jobs,” Palacios added.
The index provides an approximation of the evolution of gross domestic product. — NNN-XINHUA