In April, the fiscal deficit accumulated in the last 12 months reached 3.6% of GDP, according to the Central Reserve Bank of Peru (BCRP).
So far this year, the deficit continues to rise. It is worth noting that in 2023, the goal was to end with a deficit of 2.4% of GDP, however, it stood at 2.8%.
And, for 2024, the Minister of Economy and Finance, José Arista, announced that the fiscal rule will once again be violated due to lower tax collection.
“The fiscal goal for this year is 2%, but at this point in the game I think it will be a little more, because with 2% we put too much pressure on spending, which I don’t see as important now,” the official mentioned.
It is worth noting that, between January and April, tax revenues reached S/71,179 million, 3.3% less than in the same period of 2023; while the Government’s non-financial expenses totaled S/63,718 million, 10.6% more than last year.
Source: Larepublica
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