In Chile, growth will decelerate sharply in 2022 on a reversal of fiscal stimulus and political uncertainty. High inflation is expected to trigger additional monetary tightening. Temporary gains in poverty reduction from increased transfers will fade as emergency measures are removed. Chile’s medium-term prospects will depend on its capacity to deliver a new constitution that supports greater equity, inclusion, and environmental sustainability while preserving sound macroeconomic management and unlocking productivity. This Macro Poverty Outlook presents GDP, debt and fiscal forecasts and examines the implications for critical economic and social concepts such as growth, poverty reduction and macroeconomic stability.