Chile's economy shrinks 2.9% in 2022, central bank says

Chile's economy contracted by 2.9% in 2022, the country's central bank announced on Wednesday, marking the worst annual performance since the 1980s. The bank cited a sharp drop in private consumption and investment as the main reasons for the decline. However, the bank also noted that the economy showed signs of gradual recovery in the second half of the year, with an expansion of 1.7% in the fourth quarter.

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