Chile's Pinera promises investment boom if wins presidential election

Source: Xinhua| 2017-11-10 06:31:12|Editor: yan
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SANTIAGO, Nov. 9 (Xinhua) -- Chile's opposition presidential candidate and former president, Sebastian Pinera, said on Thursday that he would boost public investment by 40 billion U.S. dollars if he wins the election on Nov. 19.

"We will unlock a series of investments for highly significant amounts, which have trapped for various reasons," said Rodrigo Vargas, Pinera's chief economic advisor.

"Today, there are approximately 49 projects, with a worth over 50 billion U.S. dollars, which have their environmental permits and are working toward other permits," he added.

Most of these projects are in the energy and infrastructure sectors.

With less than two weeks to go until presidential and parliamentary elections, the opposition has stepped up its attacks against the government of President Michelle Bachelet, blaming it for the country's economic woes.

Chile has seen its growth slow down, with GDP rates stuck between one to two percent since Bachelet took over in 2014.

However, the government has responded that the economic slowdown began in the final years of Pinera's term in office, namely due a drop in demand and prices of raw materials.

According to polls, Pinera is the favorite to return to the presidency, and may face independent senator Alejandro Guillier in a second round, if no candidate reaches 50 percent of votes in the first round.