SANTIAGO (Reuters) – Chile’s authorities is proposing a 2.7% annual improve in its 2025 funds, President Gabriel Boric stated on nationwide TV on Sunday, saying the federal government will increase pensions and give attention to growing nationwide safety.

Boric stated the funds would give attention to growing security for Chilean residents, with a funds for justice and safety $1.5 billion greater than this 12 months’s, serving to put extra police on the streets, elevate pay for officers and management crime in prisons.

The federal government would additionally look to restrict migration, he stated. Boric has hardened his tone on unlawful migration in latest months, saying he’ll expel migrants who haven’t attended the official biometric registration course of.

Boric stated the funds would additionally assist increase pensions, the well being sector, training and tradition.

“We are forging a sustainable economy that grows and generates more wealth for everyone,” Boric stated.

Earlier this month, Chile’s central financial institution stated it expects inflation to shut this 12 months at 4.5% earlier than slowing to three.6% subsequent 12 months, whereas trimming its financial progress forecast to between 2.25% and a pair of.75% from a previous forecast of up to three%.