For third consecutive month, the fiscal deficit accumulated in the last twelve months decreased to 1.9% of GDP last March, declining by 0.1 percentage point from the deficit recorded in February.
The result was due to the decrease in non-financial expenditure of the general government (from 20.2 to 20.1% of GDP), while the current revenues remained at 19.6% of GDP.
In March, the non-financial public sector showed a surplus of S/1.11 billion, a balance S/217 million higher than the surplus recorded in the same month of 2018. This was explained by the increase in the current revenues of the general government (1.9%), particularly tax and non-tax revenues, as well as lower non-financial expenditure (-3.1%), mainly other capital expenditure (different to public investment).
In addition, there was also an increase in the non-tax revenues (3.5%). In this sense, the revenues from social contributions, as well as from canon and royalty for oil and gas, stood out.