Chile weathered the Great Recession fairly well exhibiting only one year of recession and average growth of 5.3% for the 2010 13 period. However GDP growth stumbled to 1.6% in 2014 and we do not expect to see growth reach 4% p.a. again. Over the long term growth will remain focused on investment and exports. We expect a long term CAGR of 2.8% over the 2015 2035 period and Chile's economy will have to restructure in order to attain these levels of economic growth.