over the past 12 months —as at October 2018— accounted for 2.2% of GDP, 0.1 percentage point higher compared to the previous month, Peru's Central Reserve Bank (BCR) reported Friday.
According to the issuing entity, this result was due to an increase in general government's non-financial expenses, which grew from 20.2% to 20.3% of GDP.
In October, the non-financial public sector recorded an
economic deficit of S/2.544 billion (about US$751 million), up by S/831 million (around US$245 million) from the same month in 2017.
Such performance was underpinned by greater non-financial expenses of the general government (+14.2%) in the three levels of government.
However, this was attenuated thanks to an upturn in the general government's current revenue (+8.7%), both tax and non-tax ones.
Likewise, tax revenues —mainly
general sales tax (IGV) and income tax (IR)— continued to show positive growth rates for 13 months in a row.
(END) CNA/DTK/MVB