Chile Proposes 9.4% Spending Increase on Education in 2013

Chile’s government has proposed a 9.4 percent increase in real terms in education spending in its 2013 budget legislation, President Sebastian Pinera said today in a televised address to the nation.

Outlays on education would increase by $1.2 billion to $12.8 billion, allowing the government to reduce interest rates on student loans and increase the number of scholarships, he said.

Pinera said on Sept. 10 the budget would propose a total spending increase of about 5 percent over 2012. Congress has until the end of November to vote on the budget.

To contact the reporter on this story: Randall Woods in Santiago at rwoods13@bloomberg.net

To contact the editor responsible for this story: Joshua Goodman at jgoodman19@bloomberg.net

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