Fiscal Balance in Chile
Chile's fiscal deficit varied notably over the last decade. Early in the decade, high copper prices and robust economic growth contributed to a healthy fiscal position. However, declining commodity prices, social spending increases and the COVID-19 pandemic led to a growing deficit in later years. Following a one-off surplus in 2022, the budget slipped back into deficit in 2023 and 2024, though the fiscal shortfall remained manageable.
In the year 2024, the fiscal balance in Chile was -2.85%, compared to -1.63% in 2014 and -2.38% in 2023. It averaged -2.99% over the last decade. For more fiscal balance information, visit our dedicated page.
Chile Fiscal Balance Chart
Note: This chart displays Fiscal Balance (% of GDP) for Chile from 2024 to 2023.
Source: Macrobond.
Chile Fiscal Balance Data
| 2019 | 2020 | 2021 | 2022 | 2023 | |
|---|---|---|---|---|---|
| Fiscal Balance (% of GDP) | -2.9 | -7.3 | -7.7 | 1.1 | -2.4 |
How should you choose a forecaster if some are too optimistic while others are too pessimistic? FocusEconomics collects Chilean fiscal balance projections for the next ten years from a panel of 31 analysts at the leading national, regional and global forecast institutions. These projections are then validated by our in-house team of economists and data analysts and averaged to provide one Consensus Forecast you can rely on for each indicator. By averaging all forecasts, upside and downside forecasting errors tend to cancel each other out, leading to the most reliable fiscal balance forecast available for Chilean fiscal balance.
Download one of our sample reports to visualize what a Consensus Forecast is and see our Chilean fiscal balance projections.
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