This article is adapted from AQ’s special report on the Trump Doctrine
Chile
PRESIDENT
Gabriel Boric
IN OFFICE
Since 2022
Security and the economy will be at the top of the next administration’s agenda as Chile’s leadership shifts from outgoing leftist Gabriel Boric to the right-wing José Antonio Kast. The president-elect has reiterated that his will be an “emergency government,” and plans to crack down on immigration and enforce tough-on-crime measures. To pass reforms, Kast may moderate some proposals. The Senate is divided, and right-wing coalitions won 76 of 155 lower house seats in the November 2025 election, requiring negotiation across the aisle to advance his agenda. On the economic front, the pro-market Kast has announced plans to cut public spending by $6 billion over 18 months and has promised to lower the corporate tax rate and reduce red tape. While inflation is expected to reach the 3% target this year, the World Bank has described the country’s growth potential as limited, and the IMF has noted that unemployment is higher than pre-pandemic levels.
TRENDS TO WATCH
- Kast’s term starting March 11
- Potential for tougher security policy
- Inflation reaching 3% target
GDP GROWTH
INFLATION RATE
KEY FIGURES
| Population (2026, millions) | 20.3 |
| Poverty rate (2026, World Bank definition, see note below) | 5.1% |
| Unemployment rate (2026) | 8.3% |
| Informal employment rate (2024) | 27.5% |
| Secondary education completion rate (2022) | 89.2% |
ECONOMIC INDICATORS (2026 PROJECTIONS)
| GDP growth (annual % change) | 2.0% |
| Inflation rate (annual % change) | 3.1% |
| Fiscal balance (% GDP) | -1.5% |
| China’s share of total export value (2024) | 36.1% |
| U.S. share of total export value (2024) | 16.8% |
NOTES: Poverty line is $8.30 per day in 2021 PPP. Percentages rounded to nearest decimal point.
SOURCES: Presidential approval: Cadem Plaza Pública (Dec. 2025); GDP growth, inflation, fiscal balance, population, unemployment: IMF (Oct. 2025); Share of total export value: International Trade Centre; Poverty rate: World Bank (Oct. 2025); Informal employment rate: ILO; Secondary education completion rate: IDB.
ABOUT THE AUTHOR
Emilie Sweigart
Reading Time: 2 minutesSweigart is an editor at Americas Quarterly and a policy manager at the Americas Society/Council of the Americas
