Andina

Peru: Annual fiscal deficit reaches 2.3% of GDP in Jan 2019

08:00 | Lima, Feb. 15.

The annual fiscal deficit decreased 2.3% of GDP in January 2019, 0.8 percentage points lower over the same period last year (3.1% of GDP), Peru's Central Reserve Bank (BCR) reported.

According to the issuing entity, this result was due to an increase in current revenues, mainly underpinned by a rise of tax revenues (1.1% of GDP). 

In January, the non-financial public sector recorded an economic surplus of US$4.659 billion, up US$1.457 billion compared to the same month in 2018. 

Such performance was driven by Central Government's higher current revenues (9.5%) and the reduction in non-financial expenses (2.3%).

Likewise, tax revenues expanded 12% in January compared to the same month last year. 

This was explained by higher revenues of general sales tax (IGV) (+12.8%) and income tax (IR) (+4.9%). 

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Published: 2/15/2019