Chile's President Kast Unveils Major Economic Reform Package

In a major political move, Chile's new president, Jose Antonio Kast, has disclosed details of a comprehensive reform package designed to stimulate economic growth and job stability.

The plan comprises 40 measures focusing on tax competitiveness, strengthening employment, and regulatory reforms. Kast emphasized that the initiative is a response to urgent national needs rather than an ideological agenda.

Despite ambitions to boost Chile's economic growth to 4%, the government faces skepticism from analysts and challenges in Congress, where it lacks a majority. A central feature of the reform is the gradual reduction of the corporate tax rate, alongside other tax incentives to benefit SMEs and over 4 million workers.

(With inputs from agencies.)