For the fifth consecutive month, the fiscal deficit accumulated in the last 12 months represented 4% of the Gross Domestic Product (GDP), according to information from the Central Reserve Bank (BCR).
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This percentage is far from the Government’s goal (2.8% of GDP), which would mean that the fiscal rule would not be met for the second consecutive year.
The BCR indicated that in the ninth month, the non-financial public sector registered an economic deficit of S/2,222 million, greater than the same month of 2023, due to the increase in non-financial expenses of the general government.
“So far this year, the non-financial public sector accumulated a deficit of S/20,241 million, a result higher than that achieved in the same period of 2023 (-S/ 6,176 million),” said the BCR.
Likewise, he pointed out that the current expenses of the central government grew 21.6% in the ninth month, due to the increase in tax revenues, mainly due to the higher collection of VAT, income tax, and Special Mining Tax (IEM). .
Meanwhile, the non-financial expenditure of the general government increased by 47.1%, at the three levels of government, mainly due to the registration of the capitalization operation of Petroperú, recorded in the item of other capital expenditures.
“Despite this, this operation does not have a direct impact on the measurement of the fiscal deficit for the month, since the higher expenditure is compensated by a higher income of the state company registered in the Others category. It is worth mentioning that the negative results of said company had been impacting the fiscal deficits of previous periods,” detailed the BCR.
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