President Kast denounces 3.6%-of-GDP structural fiscal deficit inherited from Boric administration

Chilean President José Antonio Kast on Monday delivered his first annual Cuenta Pública address before the National Congress, based in Valparaíso, in a speech of two hours and twenty-five minutes centred on the country's fiscal situation and on criticisms of the outgoing administration of leftist Gabriel Boric (2022-2026). The president denounced that the incoming executive received a preliminary structural fiscal deficit of 3.6% of Gross Domestic Product, more than double the 1.6% committed to by the previous government, and characterized the situation as an “economic emergency” requiring urgent measures.

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