After falling two percentage points in 2023, the Ministry of Economy and Finance (MEF) hopes to raise the tax pressure to at least 15.5% for the current year, in addition to limiting the exemptions promoted by Congress and expanding the base tax with greater restrictions on public spending. In the presentation of the new superintendent […]
Tag: Ministry of Economy and Finance
Who is José Arista? Check the profile of the new Minister of Economy and Finance
After one year and two months as head of the Ministry of Economy and Finance, Álex Contreras will be replaced by José Arista. The economist was Minister of Agriculture and Irrigation during the Government of Pedro Pablo Kuzcynski in 2018 and had a brief stint in the MEF during the mandate of Manuel Merino in […]
Minister of Economy announces increase in the Selective Consumption Tax in 2024
The Minister of Economy and Finance, Alex Contreras, announced last Monday, January 29, that the Government plans to increase the Selective Consumption Tax (ISC) during 2024. This measure was postponed last year to provide support to companies amid of the complex situation that the country was going through due to the possible arrival of the […]
Executive would resolve a new financial contribution to Petroperú next week
Given the request for capitalization of the state company, the Minister of Economy, Alex Contreras, assured that “they hope to reach a consensus.” Join the La República WhatsApp channel Price of the dollar in Peru: what is the exchange rate quote this Wednesday, January 10? What are the 3 labor modifications that will be applied […]
Minister Alex Contreras recognizes the departure of his vice ministers: “Yes, we are going to make changes”
Within the framework of the installation of the Executive Board for the Development of Renewable Energies, The Minister of Economy and Finance, Alex Contreras, was consulted about his permanence as head of the Ministry of Economy and Finance (MEF) one day after presenting his resignation and surprised by pointing out that some changes will be […]
MEF on the new Industries Law: “It has to be rigorously evaluated”
Minister Alex Contreras pointed out that it is important to “generate tax incentives,” but these must translate into greater investment. Join the La República WhatsApp channel Price of the dollar today in Peru: what is the exchange rate for this Tuesday, November 28? What is the new S/1 currency launched by the BCRP like and […]
MEF: “There is no room to capitalize Petroperú if we wanted to”
Recently, the Petroperú board agreed to request, through the Ministry of Energy and Mines (Minem), financial support in the event of a possible fuel shortage in the country due to factors such as El Niño. This order does not respond to the need to pay the start-up of the New Talara Refinerywhich is assumed with […]
Early retirement of the AFPs is “disproportionate”, according to Minister Alex Contreras
The head of the Ministry of Economy and Finance (MEF), Alex Contreras, considers that having 4 or 5 UITs of the individual funds of the AFPs, as proposed by the Congress of the Republic, is “disproportionate”. He stresses that no country in the world authorizes a similar measure, since that means leaving hundreds of people […]
Loan interest rates could fall due to BCRP cut
Since January 2023, the reference interest rate has been set at 7.75% by the Central Reserve Bank of Peru (BCRP), and until July, the entity specified that its decision did not imply the end of the cycle of increases. However, in August it was only noted that future rates will be subject to the evolution […]
Kurt Burneo: “The first impact of lower growth will be on employment”
In August, the Ministry of Economy and Finance (MEF) confirmed the downward bias that the GDP will have at the end of 2023, with indices that will be around 1.5%, although other agents place it between 0.8% and 2. 2%. The professor and former head of the branch Kurt Burneo points out that the monetary […]