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Peru's Fin Min: 2022 Fiscal Budget Bill increased by 7.6%

Photo: ANDINA/Presidency of the Council of Ministers

Photo: ANDINA/Presidency of the Council of Ministers

10:31 | Lima, Aug. 31.

Economy-Finance Minister Pedro Francke on Tuesday affirmed that the Public Sector Budget Bill for Fiscal Year 2022 presents a growth of 7.6% compared to the Initial Opening Budget approved for 2021.

"This is the largest increase in recent years, because we have fiscal space for doing so," he said during a press conference.

The high-ranking official explained that the basis for this increase is that ordinary resources will increase. It means that tax revenues will rise, which is what provides the Government with a greater margin.

"We anticipate that it will expand by S/19 billion (about US$4.66 billion) next year," he explained.


Fiscal deficit

The economist also explained that —given the deficit reduction policy— no more debt is needed.

"That is why the income from the so-called credit operations is reduced as we do not want to go into so much debt," he said in his presentation.

(END) SDD/JJN/MVB

Published: 8/31/2021
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