Chile presidential candidate José Antonio Kast has significantly strengthened his economic credentials by recruiting several prominent economists previously aligned with more moderate rivals. This strategic move provides his campaign with a substantial, investor-friendly boost ahead of December’s decisive runoff election. The assembled team includes former Finance Minister Felipe Larraín, ex-central bank Governor Vittorio Corbo. Former finance ministry undersecretary Alejandro Weber, and Klaus Schmidt-Hebbel. Former chief economist at the Organisation for Economic Co-operation and Development.
Establishing Economic Credibility and Discipline
Kast’s campaign has made economic discipline a central theme, with his main economic advisor Jorge Quiroz emphasizing their shared commitment to reducing public spending and cutting bureaucratic red tape. The inclusion of these respected figures addresses previous criticism about Kast’s limited executive experience and narrow advisory circle. Furthermore, many of these economists had previously supported center-right candidate Evelyn Matthei. Indicating Kast’s success in consolidating support across the right-wing spectrum following her fifth-place finish in the first round.
Addressing Chile’s Economic Challenges
The expanded economic team faces significant challenges, including Chile’s modest 2.5% growth projections for this year and next. High 8.5% unemployment, and steadily rising public debt levels. Kast’s pro-market platform proposes slashing regulations, lowering corporate taxes, and increasing infrastructure investment. However, his campaign has faced skepticism over specific proposals. Particularly his plan to cut $6 billion in public spending over 18 months without affecting social programs, which critics consider unrealistic.
Kast: Political Implications and Runoff Dynamics
This economic team expansion represents a crucial strategic move as Kast prepares to face leftist candidate Jeannette Jara in next month’s runoff. While Kast finished second in Sunday’s first-round vote with 23.9%, behind Jara’s 26.9%. He has since gained endorsements from other right-wing contenders. The strengthened economic team not only enhances Kast’s credibility with moderate voters and the business community but also creates a clear contrast with Jara’s platform. Which emphasizes clean energy, employment growth, and higher minimum incomes.
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