The victory of Sebastián Piñera in Chile's presidential election could provide an opportunity to improve business confidence and economic growth in the country, Fitch Ratings said Dec. 18.
Piñera, who ran for the center-right coalition, campaigned on deregulation and tax reform as measures to boost economic growth.
For Fitch, momentum in business confidence is key for the economic recovery going forward. The rating agency expects Chile to post GDP growth of 2.7% in 2018 and 2.9% in 2019 after weak projected growth of 1.4% in 2017.
Fitch sees its entire Chilean rated portfolio benefiting from an improved regulatory business environment and a pro-growth agenda, although the effect varies among sectors.