The President Dina Boluarte He leaves his minister Raúl Pérez Reyes poorly stopped, as if he were a ‘puppet’ of his management, and ignores the credibility that he should support the Minister of Economy, who is, in the end, the guarantee of the fiscal stability of the country, in the same way that the president of the Central Bank is for monetary stability.
“If people withdraw and remain without a pension fund, you should ask why they should receive a pension, whatever it is. (…) A retirement also has a fiscal impact,” just three days ago, the Minister of Economy, Raúl Pérez, on the last day of the Roadshow Inperú in Madrid. Aware of the implications of a new retirement, Pérez Reyes said, on behalf of the Executive, that he does not agree with an initiative like that and, if approved in Congress, the Executive was going to observe it.
The holder of the MEF argument in front of other authorities, Peruvian and investors entrepreneurs that a new retirement is not convenient for future pensioners or for Peruvian macroeconomy. He even warned that retreats have an impact on private investment because “it can place us on a path of local savings decrease.”
Despite this, as if the economic institutionality were a matter of play, President Boluarte said that “after a process of coordination with the Minister of Economy and Finance, and attending above all the concern of millions of Peruvians who are in the expectation of the next retirement of the AFP, our government has taken the position to think favorably about this measure.” Apparently, I would have no idea of the MEF position on the measure or the future impact on public finances.
“The money that all workers are discounted and goes to AFP or the ONP is the money of the family that works. And, if it is the money of the family that works, because the family has to know at what time it requires it and what it uses for the good of their family,” Boluarte finished off.
Bad signal
For the Deputy Minister of Economy, Carlos Casas, the president’s statements are a bad sign for the market because there is a concern in the international scope about whether Peru will recover its fiscal discipline and comply with the prudential goals.
He said that our country in two or three years is expected to resume the path of fiscal discipline, but with this type of measures it will be more complicated.
“The current law (pension modernization standard) in the future can have a strong fiscal cost. And this cost will increase much more if we have a new retirement,” said Casas.
For former Minister of Economy David Tuesta, the opinion of Boluarte responds more to populism than to the real scenario that the country faces.
“Obviously, this is a populist and, in addition, opportunistic speech. He has seen where the wave of public opinion is going and has joined directly,” he said.
Tuesta also said that Boluarte’s statements are contradictory with the search for well -being that should aim a government, given that the new rule indicates that a new retirement prevents people from accessing a minimal pension.
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