PERU: Government Will Revise 2026 Budget To Boost Fight Against Crime
Nov-05 13:23
- Speaking at a conference in Lima yesterday, President Jeri said that the government plans to revise its proposed 2026 budget so that it can reallocate more resources to its public safety efforts. Jeri said that next year’s budget would need to be revised and approved by November 30, at the latest, according to reports on Bloomberg. The President also reiterated the government’s macro forecasts, with GDP still seen rising 3.5% this year while the fiscal deficit will come in within the 2.2% of GDP legal limit.
- The fight against crime has become a top policy priority for the interim president, who announced a state of emergency in the capital shortly after assuming office last month while he seeks additional powers from Congress to immediately address soaring crime levels. Frustration at the failure of former President Boluarte to rein in violent crime contributed to Congress voting to impeach and remove her from office last month.
- Meanwhile, the macro calendar remains clear today, and for the rest of the week, with the next key event being the BCRP rate decision on Nov 13. Despite the recent downside surprise to October CPI inflation (1.35% y/y vs. 1.51% exp), the central bank is likely to remain on hold next week, given that the policy rate is already very close to the neutral level while GDP growth is around potential.
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