6 Jan 2009

Chile unveils $US4 billion stimulus deal

5:26 pm on 6 January 2009

President Michelle Bachelet of Chile has announced a $US4 billion stimulus package aimed at fending off the financial crisis.

In a televised national address on Monday, Ms Bachelet said public spending would rise 10.7% in 2009 in real terms.

The plan includes a $US1 billion capitalisation for state copper giant Codelco to help shore up its investment plans.