Macroeconomic Outlook
The Macroeconomic Policy Division is analyzes, models, and forecasts the main macroeconomic variables relevant for fiscal policy.
Economic Outlook 2020-2025*
| 2020 | 2021 | 2022 | 2023 | 2024 | 2025 | |
|
GDP |
-6.0 |
5.0 |
3.7 |
3.3 |
2.8 |
2.5 |
|
Domestic Demand |
-9.3 |
8.8 |
5.4 |
3.7 |
3.1 |
2.7 |
|
Average CPI Index |
3.0 |
3.0 |
3.1 |
3.0 |
3.0 |
3.0 |
|
Nominal Exchange Rate |
792 |
723 |
722 |
728 |
734 |
740 |
|
LME Copper price |
280 |
335 |
320 |
315 |
310 |
310 |
*Correspond to the assumptions contained in the quarterly Public Finance Report for the third quarter of 2020.
Source: Ministry of Finance.
One of the main deliverables of the Macroeconomic Policy Division is the analysis of the Macroeconomic Outlook, disclosed annually in the State of Public Finance (Annual Report).
The Macroeconomic Policy Division is also responsible for updating the projections of the Macroeconomic Outlook, used in the quarterly Public Finance Report (IFP) led by the Budget Office. Each year, the IFP that corresponds to the third quarter, includes the macroeconomic forecasts that are considered to determine the fiscal revenues, a fundamental variable for the Budget Law discussion.
Ministry of Finance 
