Economy and Finance Minister Maria Antonieta Alva recently affirmed that
if compared to other recession stages that the nation had faced in previous periods.
As an example, the Cabinet member indicated that —while the COVID-19 economic crisis will last until 2022— this interval is shorter compared to the four years of El Niño Phenomenon, the fiscal adjustment of 1983, the five years of the Great Depression, as well as the nine years of stagflation and macroeconomic adjustment started in 1988.
Besides, the high-ranking official said that the Ministry of Economy and Finance (MEF) seeks to achieve a
higher tax collection to finance public services.
Thus, there is —for instance— a project to enhance the collection management by local governments. Besides, the modules of the Integrated Administrative Management System (SIGA) and the Integrated Financial Administration System (SIAF) will be strengthened.
Budget support
Last Tuesday, the minister supported —at Congress— the budget set to be allocated to the Economy and Finance sector for the 2021 Fiscal Year.
During her presentation, Alva mentioned that —despite the adverse context caused by the pandemic— Peru has stood out in the region for maintaining a low level of risk —lower than countries such as Chile, Colombia, Mexico, and Brazil.
She also highlighted the greater stability of the exchange rate compared to countries such as Mexico and Colombia.