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MEF and BCRP met to coordinate monetary and fiscal policy

MEF and BCRP met to coordinate monetary and fiscal policy

the minister of Economy and Finance, oscar grahamand the president of the Central Reserve Bank of Peru (BCRP), Julio Velardeheld a meeting this Tuesday, February 15, in which, in addition to discussing issues of coordination between the monetary politics and prosecutor, addressed issues related to the local and international macroeconomic contextas well as the external and internal risks that the Peruvian economy could face in 2022.

During the meeting, held at the Ministry of Economy and Finance (FEM), both officials described the international global environment as favorable and that it has generated conditions that will allow the country to increase its income, continue with the consolidation of fiscal accounts and generate favorable conditions for a new expansive cycle of mining investment.

Likewise, the geopolitical and financial risks that could generate uncertainty in international markets were discussed. In this context, it was highlighted as essential to maintain internal and external macroeconomic balances; which led to a rapid recovery of the Peruvian economy in 2021, whose GDP was 13.13%, according to the report delivered this Tuesday by the INEI.

During his speech, Graham highlighted the prudent management of public finances that the country has had, the need to continue boosting public investment, resume the competitiveness agenda and continue promoting private investment as the central engine of sustainable growth.

Along the same lines, he pointed out that for 2022 work is being done on the new fiscal rules 2023-2026, a proposal that will be sent to the Congress of the Republic in March of this year.

They also addressed the process of Peru’s accession to the Organization for Economic Cooperation and Development (OECD), in particular the opportunities it would provide for the improvement of public policies and the attraction of investment.

It should be noted that the BCRP It has participated in meetings at the OECD and will also play an active role in the accession process, specifically on issues such as standards regarding the management of economic statistics and the movement of capital and foreign exchange risk management.

Source: Larepublica

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