Andrés Velasco: Chilean economy will exceed 5% growth in 2007

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SANTIAGO.- Minister of Economy, Andrés Velasco, gave a presentation today in front of members of the Metal Products and Manufacturers Association (ASIMET), where he once again underscored the macroeconomic policy that the government has pursued and ensured an economic growth rate of over 5% during 2007.

The state secretary explained that the country has not grown at a higher rate this year due to elevated energy prices, but assured that the national economy would still grow more than last year.

Velasco also said that the changes experienced in the exchange rate during recent months correspond to global trends, adding that, in this aspect, Chile has been able to maintain more stability than other developed countries.

The minister also stated that investment has reached record levels during the last few months, insisting that this helps to maintain and improve the growth rates.

Velasco called out to all business executives present, urging them to invest more into the research and development of new ideas so as not to lose a competitive stance against other exporting countries such as China and India.