UPDATE 1-Chile to revise 2010 budget for quake rebuilding

(Adds details, background)

By Antonio de la Jara

SANTIAGO, March 16 (Reuters) - The Chilean government plans to announce changes soon to the 2010 budget in order to help finance reconstruction after February's devastating earthquake, Finance Minister Felipe Larrain said on Tuesday.

Larrain also did not rule out revising the tax system.

The 2010 budget was set by the previous, center-left government of President Michelle Bachelet. The 8.8-magnitude quake struck Feb. 27 during her final days in office and shortly before the conservative Sebastian Pinera was sworn in as president on Thursday.

"We are looking at the budget ... and very soon we are going to announce what the budgetary adjustments will be. We are also looking at different financing options and one alternative that has not been ruled out is the subject of taxes," Larrain told reporters after meeting with the country's leading business groups, seeking their help for reconstruction.

The quake caused an estimated $30 billion in damage to Chile's infrastructure, homes and industry, and ensuing tsunamis killed several hundred people.

Pinera said last week his government will create a special rebuilding fund to finance reconstruction, using loans, savings and budgetary austerity.

Future income from exports of copper -- Chile is the biggest world producer of the metal -- will help to finance reconstruction, Pinera said, as will reworking the 2010 budget to trim spending in other areas.

Chile will also have to raise money through debt issues and dip into savings from past copper income that it saved in investments abroad in a sovereign wealth fund.

Chile, a model of economic stability in Latin America, can raise money relatively cheaply on international markets because it has an investment grade rating and is considered low-risk. (Reporting by Antonio de la Jara; Editing by Daniel Trotta and Padraic Cassidy)