Buoyed by strong domestic demand and sustained high copper prices, Chile's central bank Monday raised the country's projected economic growth rate in 2011 by 0.5 percent, to the range of 6-7 percent.
In a briefing with the Senate Finance Committee, Central Bank Governor Jose de Gregorio also said the bank has reduced its forecast for inflation to 4 percent for this year.
The South American nation's eocnomic prospect looks better with newly released data of the first quarter, including an improved domestic demand and sustained high prices for Chile's top export, copper.
Calcuated with the current global prices, Chile would achieve trade balance this year with exports reaching 85.3 billion U.S. dollars and imports estimated at 70.3 billion dollars, de Gregorio said.