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Peru: Annual fiscal deficit stood at 1.6% of GDP in October 2019

11:11 | Lima, Nov. 15.

The fiscal deficit accumulated over the past 12 months in Peru reached 1.6% of GDP in October 2019, a similar ratio to that recorded the previous month, Peru's Central Reserve Bank (BCR) has reported.

According to the issuing entity, general government's non-financial expenses stood at 20.1% of GDP, and current revenues stood at 19.6% of GDP.

BCR also noted that the non-financial public sector recorded an economic deficit of S/2.341 billion (about US$690.3 million) in October, up S/131 million (about US$38.6 million) compared to the same month in 2018.

"This was due to an increase in general government's non-financial expenditures, mainly current ones, and to greater deficit in the primary output of State-owned enterprises, partially offset by the increase in general government's —tax and non-tax— current revenues," the bank explained.

Between January and October, it accumulated a surplus of S/136 million (around US$40.1 million), down from the deficit of S/4.812 billion (about US$1.419 billion) during the same period last year.  

On the other hand, BCR states that current revenues of the general government grew 7.6% in October.

(END) MDV/RMB/MVB

Published: 11/15/2019
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