Chile announces $5.5 bln economic recovery plan; growth estimate slashed

Chile's finance minister on Monday announced plans to implement a $5.5 billion recovery plan, including $2.4 billion on infrastructure after the economy posted the single biggest contraction in a decade amid riots and mass protests. Finance Minister Ignacio Briones also said the ministry was slashing the official economic growth estimate for this year to 1.4% due to the impacts of the recent unrest. In early November, the government had put 2019 growth at 2%.

"These aren't just numbers. This means thousands of companies and jobs today are at risk," Briones told a news conference.