SANTIAGO – Chile's economy is poised to improve by mid-year as rebounding copper prices and President-elect Sebastian Pinera's promise of business-friendly policies increase optimism among investors, according to a central bank survey released on Tuesday.
The study, which surveyed the perceptions of more than 200 business owners and managers throughout Chile, found that many of those interviewed had launched new investments, or planned to in the near future.
"The majority anticipate that by the second half of the year we'll see a sharper increase in dynamism, and a smaller proportion felt that it would begin in the second quarter," the bank said.
Business owners underscored the "expectation of the new administration's policies in a variety of areas, including taxes and environmental regulation," the study said.
Conservative billionaire Pinera, a 67-year-old former president, campaigned on a platform for reviving growth in the world's No 1 copper producer.
Following his victory in December, the IPSA, Chile blue-chip stock index, hit an all-time high.
Pinera has promised to cut the corporate tax rate and scale back outgoing President Michelle Bachelet's tax, labour and education reforms.
Pinera takes office on March 11.