Economy and Mining Minister Daniel Mas said 2026 will be the year to "put the house in order" and that 2027 will be "the year of growth and jobs", according to Diario Financiero. He made the remarks in an interview with TVN's Estado Nacional program, seven months into José Antonio Kast's government.
Mas defended the government's measures to revive investment and put public finances in order. "We were coming from a structural deficit of 3.3%, an imbalance in the accounts of more than US$ 7,000 million from overestimating revenue," he said.
The structural deficit measures how much the state spends beyond its permanent revenue, excluding fluctuations in copper prices or the economic cycle. In household terms, it is like a family spending more than it earns in a normal month, without counting bonuses or strokes of luck. The minister did not specify the current figure in the interview.
According to Mas, after 12 years of growth close to 2%, reviving the economy and restoring investor confidence takes time. He explained the sequence this way: confidence comes first, then ideas and capital turn into decisions, followed by construction, and only then do jobs appear.
Asked whether Chile's economy could end this year with growth of 3%, he replied: "I think so". He attributed this to investment, economic momentum and developments in mining, though he warned that the country must ensure that "this mining boom generates development".
On the decline in mining production, the minister described a "temporary" situation caused by strikes, storms and other external factors. He forecast a rebound next year and a target of 6 million tonnes of copper by 2030.
Mas also addressed investigations into Codelco, the state-owned copper company, over inconsistencies in its production figures and double counting at the Salvador and Ministro Hales divisions. "This must be investigated thoroughly, whoever falls, because these resources belong to all Chileans," he said. He avoided drawing early conclusions about the impact on the company.
On jobs, the issue with the most direct impact on household finances, Mas said 50,000 jobs were created between July and October. The new target is to add 100,000 jobs by March 2027, with the government encouraging the private sector to launch its projects.
There is political pressure. Senate President Paulina Núñez (RN) called on the government to introduce an employment bonus and increase spending, arguing that the Chile Despega plan is insufficient with unemployment at 9.6%. Mas said "there has been dialogue" with the different political groups. The first test of his target will come in March 2027.
