Chile’s Ex-Finance Chief Vies for Presidency With Tough Message
- Briones says foreign investment is key for sustainable growth
- He served in Pinera’s cabinet at height of nationwide protests
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Chile needs to lure foreign investment and expand mining to overcome the tough economic times that lie ahead in the divided nation, according to a former finance minister who’s now running for president.
Ignacio Briones, who served under President Sebastian Pinera, warned that this year’s strong economic recovery won’t be sustainable unless the country, currently rewriting its constitution following the most severe social unrest in a generation, sends the right signals to investors abroad. Those include a broad tax reform that eliminates exemptions, as well as policies that encourage mining and allow for more employment subsidies.