The accumulated fiscal deficit in the past 12 months —as of July 2017— represented 2.7% of GDP, thus sliding 0.2% from the previous month, Peru's Central Reserve Bank (BCR) reported.
The result reflected the general government's weaker non-financial expenses (down from 19.6% to 19.5% of GDP). Current revenue remained at 18.1% of the GDP.
On the other hand, the general government's accumulated gross capital formation in the last 12 months stood at 3.9% of GDP.
Gross capital formation rose 8.1% in July, thus growing for the second straight month.
In July, the non-financial public sector posted a S/3.204-billion (about US$986.15 million) deficit, S/916-million (about US$281.93 million) lower than in the same month in 2016.
Such decline was underpinned by the general government's current revenue, which grew 9% and stood at S/9.251 billion (about US$2.85 billion).
This was largely due to an upturn in tax revenue (10.1%): general sales tax-IGV (10.6%) and selective consumption tax-ISC (18.5%).
On the other hand, non-tax revenue expanded 5.8%.
(END) CNA/CNA/DHT/MVB