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Reuters
Reuters
Business

Chile announces $3.7 billion recovery plan to aid struggling economy

FILE PHOTO: Chile's President Gabriel Boric signs a regional agreement on access to information, public participation and justice in environmental matters, also known as the Escazu Agreement at government house in Santiago, Chile March 18, 2022. Chilean Presidency/Handout via REUTERS

Chile's President Gabriel Boric announced on Thursday a $3.7 billion economic recovery plan that includes a hike in the minimum wage, subsidies and financing for sectors of the economy still battling fallout from the COVID-19 pandemic.

Key goals of the plan, the president said, include creating 500,000 jobs and raising the current monthly minimum wage of 350,000 pesos ($434) to 400,000 pesos ($496) by the end of the year.

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