The fiscal deficit accumulated over the past 12 months in Peru reached 1.6% of GDP in November 2019, the same rate as last month, Peru's Central Reserve Bank (BCR) reported on Friday.
According to the issuing entity, current revenues increased from 19.6% to 19.7% of
GDP between October and November, while non-financial expenses stood at 20%.
BCR also noted that the non-financial public sector recorded an economic deficit of S/1.905 billion (about US$561.4 million) in November, up by S/52 million (about US$15.3 million) compared to the same month in 2018.
This result was explained by a rise in general government's non-financial expenditures —mainly current ones— and a lower primary output of State-owned enterprises, partially offset by the increase in general government's —tax and non-tax— current revenues.
Between January and November, the accumulated fiscal deficit was S/1.830 billion (around US$539.3 million), down by S/4.835 billion (about US$1.424 billion) compared to the same period last year.
On the other hand, the
Central Reserve Bank stated that current revenues of the general government grew 8.4% in November alone, driven by a growth in tax revenues (9.5%) for the third consecutive month.
(END) SDD/RMB/MVB
Published: 12/13/2019