Chile: public finances

What is Chile's fiscal deficit?

Chile's central government deficit over the 12 months to August 2026 was 1.8% of GDP, down from 2.8% at the end of 2025, according to the Budget Office's fiscal analysis of 30 September 2026. The primary deficit, which excludes interest payments, fell to 0.6% of GDP from 1.6% in 2025.

Budget spending grew 1.0% in real terms in January to August. DIPRES projects an actual deficit of 1.8% of GDP for 2026 and a structural deficit of 2.3%, against a target of 2.6%. The structural balance adjusts revenue for the economic cycle and the copper price.

Official sources: fiscal analysis of 30 September 2026

How much public debt does Chile have?

Chile's gross central government debt was 41.5% of GDP in December 2025, according to the Ministry of Finance's Public Debt Office. Bond repayments due in 2026 were 7,211 million US dollars, and the average maturity of the debt was 10.4 years at the end of 2025.

The Budget Office's October 2026 public finance report projects gross debt of 42.5% of GDP at the end of 2027. Gross debt does not subtract the government's financial assets, such as the sovereign wealth funds, so net debt is lower.

Official sources: Public Debt Office · October 2026 public finance report

What is in Chile's 2027 budget?

Chile's 2027 budget bill plans spending of 91,175,816 million pesos, 1.5% more in real terms than expected spending in 2026, according to the Budget Office's third-quarter 2026 public finance report. Revenue is projected at 84,424,236 million pesos, or 21.9% of GDP, and the actual and structural deficits at 1.8% of GDP.

The Ministry of Finance sent the bill to Congress on 30 September 2026, naming security, health, employment, public works and housing as priorities. Congress can change the amounts before the budget law is approved.

Official sources: third-quarter 2026 public finance report · Ministry of Finance

What is Chile's national debt?

The IMF puts general government gross debt in Chile at 41.5% of GDP in 2025. The peak was 41.8% of GDP in 2024 and the low 3.9% of GDP in 2007. Latin America & Caribbean median: 65.6% of GDP; Chile is 24th highest of 31. World rank, highest first: 124th of 185.

What is Chile's fiscal deficit?

According to the IMF, general government net lending or borrowing in Chile was -2.8% of GDP in 2025, which is a deficit. Since 2005 it has ranged from -7.5% of GDP (2021) to 8.0% of GDP (2007). Across Latin America & Caribbean the middle value was -2.8% of GDP, and Chile placed 15th highest of 32. Worldwide: 96th of 188.

What is Chile's government revenue?

The latest figure from the IMF, for 2025, is 23.5% of GDP. Since 2005 it has ranged from 20.7% of GDP (2009) to 28.1% of GDP (2022). It is 20th highest of 32 in Latin America & Caribbean, where the median is 24.9% of GDP. Of 187 countries with 2025 data, 113th highest.

How big is Chile's government spending as a share of GDP?

According to the IMF, general government spending in Chile was 26.2% of GDP in 2025. Since 2005 it has ranged from 18.7% of GDP (2006) to 33.6% of GDP (2021). It is 17th highest of 32 in Latin America & Caribbean, where the median is 26.7% of GDP. Worldwide: 114th of 186.

What is tax revenue in Chile?

The IMF puts central government tax revenue in Chile at 18.3% of GDP in 2024. The peak was 21.3% of GDP in 2022 and the low 14.6% of GDP in 2009. Across Latin America & Caribbean the middle value was 15.0% of GDP, and Chile placed 3rd highest of 14. Worldwide: 45th of 92.

What is Chile's military budget as a share of GDP?

SIPRI puts military spending in Chile at 1.5% of GDP in 2025. That is the lowest since at least 2005. Across Latin America & Caribbean the middle value was 1.0% of GDP, and Chile placed 4th highest of 22. World rank, highest first: 82nd of 149.