Chile's "Three O'Clock Newspaper" said on February 15**, according to data analyzed by the Economic Observation Center of Chile's Diego Portalis University (OCEC-UDP), the average potential economic growth force of Chile in 2023-2025 is 16%, which is lower than the OECD (OCDE) country 18% average, with Israel, Ireland and Lithuania taking place. The 8% level is in the top three. Over the past decade, Chile's GDP has grown at an average rate of 2%, well below the 4.4 percentile period from 2004 to 2013At the level of 8%, the economic growth capacity continues to weaken.
Juan Ortiz, senior economist at OECD-UDP, believes that Chile's low productivity is the main reason for the low level of potential economic growth, and the total factor productivity of Chile from 2013 to 2021 was negative per year. At the beginning of this century, Chile's GDP grew at an average rate of about 5%, and at this growth level, Chile is expected to become a developed country by 2025, but it has proven that becoming a developed country is a long-term task, and in the medium term, Chile's per capita GDP is in a position to reach the level of Eastern European countries, but to achieve this goal, Chile needs to implement effective reforms to increase the potential economic growth level to about 3%.
*: Economic and Commercial Section of the Embassy of the People's Republic of China in the Republic of Chile.