The Minister of Economy and Finance, Jose Aristaconfirmed that for the second consecutive year, Peru will not comply with the fiscal rule that establishes that the deficit reach 2.8% of the Gross Domestic Product (GDP) in 2024.
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“Our deficit for next year will be 2% of GDP, and this year a little more than 2.8% (of GDP),” said the official after leaving the Congress of the Republic, where he arrived to participate in the Commission of Budget.
By 2024, the fiscal goal is to reach 2.8% of GDP. This percentage was modified a few months ago because it was initially expected to be 2% this year. Until October, five consecutive months were recorded at 4% of GDP.
PETROPERU
The minister also stated that the financial support for Petroperú will not affect the fiscal goal in the short term, however, he warned that there is a possibility that there will be an impact later, if the state company does not recover.
“In the long term, assuming that Petroperú is not reactivated or fails to recover, it would affect the fiscal space due to the level of debt,” said the official.
On the other hand, he pointed out that they already met with the directors of Petroperú last Tuesday and that they received a “still incomplete” presentation from them. “We expect more details and at the same time we want deadlines, measures, actions and above all we want results,” he added.
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