- No macro data are in the calendar today, with attention on Peru’s Congress, where lawmakers will vote on a motion on whether to fire Finance Minister Jose Arista. The vote comes amid criticism over a bailout for state oil company Petroperu and a growing fiscal deficit.
- Last week, Peru’s Fiscal Council criticised the government for failing to curb the rise in the fiscal deficit, saying that it is unlikely to hit its revised 2.8% of GDP fiscal deficit ceiling for this year. After missing the 2023 fiscal ceiling, the Fiscal Council said that further non-compliance would seriously weaken the fiscal credibility of the country, with possible credit rating implications.
- Speaking in Congress yesterday, after robust August economic activity data, Arista said that he expects GDP growth to be very good in the coming months, with the economy growing over 3.1% this year and at least 3.0% in 2025.
PERU: Finance Minister Arista Faces Vote In Congress
Last updated at:Oct-16 11:39By: Keith Gyles
Peru
- No macro data are in the calendar today, with attention on Peru’s Congress, where lawmakers will vote on a motion on whether to fire Finance Minister Jose Arista. The vote comes amid criticism over a bailout for state oil company Petroperu and a growing fiscal deficit.
- Last week, Peru’s Fiscal Council criticised the government for failing to curb the rise in the fiscal deficit, saying that it is unlikely to hit its revised 2.8% of GDP fiscal deficit ceiling for this year. After missing the 2023 fiscal ceiling, the Fiscal Council said that further non-compliance would seriously weaken the fiscal credibility of the country, with possible credit rating implications.
- Speaking in Congress yesterday, after robust August economic activity data, Arista said that he expects GDP growth to be very good in the coming months, with the economy growing over 3.1% this year and at least 3.0% in 2025.
