Story highlights The minister was photographed laughing while posing with the doll meant to "stimulate the economy"

The executive who presented the gift has offered to resign

Chile's first female President has condemned the gift

(CNN) A sex doll has landed a government minister and an export executive in hot water in Chile.

The gag gift was given by Roberto Fantuzzi, the head of the Chilean exporters' association, to Chilean Economy Minister Luis Felipe Cespedes at an annual industry dinner on Tuesday night.

Fantuzzi gave Cespedes the doll, which had a note taped over its mouth that read "to stimulate the economy."

While gag gifts are common at the yearly event, this year's gift has sparked an enormous backlash.

Cespedes, who could be seen laughing and smiling upon accepting the naked doll, apologized on Thursday.

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