The projections of the Peruvian economic variation for this year have been in constant decline. It is now expected to range between 0.8% and 2.2%. After questions about his optimistic reading, the head of the Ministry of Economy and Finance (MEF)Alex Contreras, told La República that the GDP would close “more or less 1.5%”. The […]
Tag: Ministry of Economy and Finance
Urban Together to reduce poverty: what does it consist of and when would it be implemented?
In our country there are more than 9 million Peruvians who are poor, according to the report of the National Institute of Statistics and Informatics. This figure, by 2022, represented an increase of 1.6 percentage points, that is, 628,000 more people in relation to the year 2021. In this sense, the Government seeks to reduce […]
Why the Selective Consumption Tax will not rise this year and what products are taxed with this tax?
He Minister of Economy and Finance (MEF), Alex Contreras, ruled out that during this 2023 there is a readjustment of the Selective Consumption Tax (ISC), as planned. Along these lines, he announced that the decision will be postponed until 2024, “depending on the circumstances.” “I think that one year is enough time for companies to […]
Pension reform proposed by the Executive: what does it say about eventual AFP withdrawals?
There are 10 bills presented to Congress that point to a seventh AFP withdrawal and that, for the moment, are waiting to be ruled on in the Economy Commission. In this context, the Executive presented its pension reform project on Tuesday, June 20, in which it touches on specific points on the release of individual […]
Minister Alex Contreras to investors in New York: “Whoever bets on Peru always wins in the long term”
He Minister of Economy and FinanceAlex Contreras, together with the president of the Central Reserve Bank of Peru (BCRP), Julio Velarde, lead a public-private delegation in the city of NY (USA) with the objective of holding meetings with investors and authorities to expose them the macroeconomic strengths of Peru and various investment opportunities that the […]
Chancay: Megaport could postpone its delivery until 2025
The collapse of one of the central structures of the Chancay megaport has put the entire national logistics and commercial transport chain on alert about a project that has even multiplied the value of agricultural land in Huaral. The investment of the megaport in its first stage amounts to US$1,213 million (not including IGV), while […]
MEF hopes that Peru will be part of the OECD before 2026
The Minister of Economy and Finance, Alex Contrerasassured that Peru’s goal is to be a member of the Organization for Economic Cooperation and Development (OECD) before 2026. During his presentation before the Special Commission for Monitoring the Incorporation of Peru into the OECD (CESIP-OECD) of Congress, the head of the MEF said that the great […]
Fitch Ratings maintained Peru’s rating at ‘BBB’ with a negative outlook
Fitch Ratings decided maintain the BBB rating with a negative outlook for Peru. According to the international agency, credit risks remain high amid weakening governance, political stability and growth prospects, which will be challenging for the country. “Deep-entrenched governance challenges and growing political uncertainties will continue to impede reform and policy initiatives and undermine prospects […]
MEF asks “not to lose hope” despite lower estimates of GDP growth
In line with other international organizations and banking entities, the Ministry of Economy and Finance (MEF) cut its estimate of economic growth for this 2023 from 3.5% to 2.5%, explained by the negative impact that the conflicts have left and social and global phenomena during the first quarter of this year. According to Macroeconomic Projections […]
The economy will grow less than 1% in February, forecasts the MEF
During January the Peruvian economy fell 1.12%, mainly affected by the sociopolitical crisis since the arrival of Dina Boluarte to the government. Despite the climate emergency caused by Cyclone Yaku, the Ministry of Economy and Finance (MEF) assures that the impact will not be so pronounced. Alex Contrerashead of the MEF, anticipated that in February […]