Chile To Allocate $1.2Bln To Solve Protest-Triggering Issues - Finance Ministry

Chilean authorities will allocate $1.2 billion to solve social problems that have triggered protests in the country, which have been ongoing for several days and have often turned into riots, the country's finance ministry said on Wednesday

SANTIAGO (UrduPoint News / Sputnik - 23rd October, 2019) Chilean authorities will allocate $1.2 billion to solve social problems that have triggered protests in the country, which have been ongoing for several days and have often turned into riots, the country's finance ministry said on Wednesday.

Residents of Santiago, where the most crowded rallies took place, told a Sputnik correspondent that they protested against low salaries, growing tariffs and the inability to get a decent free education and health care services. On Tuesday, Chilean President Sebastian Pinera announced a package of measures aimed at solving these problems.

"The total cost of the measures announced is approximately $1.2 billion," the finance ministry said.

The measures include support to pensioners, the creation of a guaranteed minimum wage level, lowering drug prices, introduction of a 40-percent tax on large incomes exceeding 8 million Chilean pesos (approximately $11,000) per month, the stabilization of electricity tariffs and the reduction of the parliament.

Part of the funds about $350 million will be spent on the restoration of the metro and public infrastructure, which suffered great damage during the riots, the ministry noted.

Chile has been marred in public unrest since October 6, when the authorities increased subway fares. What started as peaceful public demonstrations, turned into violent rallies, clashes with law enforcement and public unrest.