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SANTIAGO, March 5 (Xinhua) -- Chile's president-elect Michelle Bachelet will inherit "a sluggish1 economy," Chile's incoming Finance Minister Alberto Arenas2 said Wednesday.
Bachelet, who led Chile from 2006 to 2010, is to be sworn in on March 11.
"The new government will inherit a sluggish economy from the current administration, an inheritance of low growth," Arenas told a press conference after a meeting of Bachelet's economic team.
At the meeting, officials reviewed the latest economic indicators3 released by the Central Bank of Chile.
The country's economy registered a 1.4-percent growth in January, lower than the 1.9 percent rate analysts4 had expected, Arenas said.
Despite the lackluster figure, the future finance chief expressed his optimism that the new administration can boost the economy.
His remarks were immediately refuted by the current conservative administration of President Sebastian Pinera.
"Economic forecasts are fundamentally based on what is going to happen rather than what has already happened," Pinera's Interior Minister Andres Chadwick said, claiming that economic indicators dipped due to the return of center-left power which made investors5 nervous.
"Chile's economy saw an average growth of 5.4 percent in the past four years despite adverse6 international conditions and damages caused by a devastating7 earthquake," Chadwick said, adding that "it is one of the highest growth rates among Latin American countries."
Current government officials have also claimed that the incoming government's plan to raise the price of utility services supplied to large companies has dampened investors' enthusiasm.
Last week, a financial market survey showed that analysts expect the economy to grow 3.8 percent in 2014.
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1 sluggish | |
adj.懒惰的,迟钝的,无精打采的 | |
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2 arenas | |
表演场地( arena的名词复数 ); 竞技场; 活动或斗争的场所或场面; 圆形运动场 | |
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3 indicators | |
(仪器上显示温度、压力、耗油量等的)指针( indicator的名词复数 ); 指示物; (车辆上的)转弯指示灯; 指示信号 | |
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4 analysts | |
分析家,化验员( analyst的名词复数 ) | |
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5 investors | |
n.投资者,出资者( investor的名词复数 ) | |
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6 adverse | |
adj.不利的;有害的;敌对的,不友好的 | |
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7 devastating | |
adj.毁灭性的,令人震惊的,强有力的 | |
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