Peru: Annual fiscal deficit down to 2.2% of GDP in June 2018

Peru’s public sector posted a 2.2% annual accumulated fiscal deficit of GDP in June 2018, a 0.1% decline from the previous month, Central Reserve Bank (BCR) reported.

According to the issuing entity, this result was due to an increase in general government’s current revenue, which grew from 18.8% to 18.9% of GDP.

Furthermore, the general government’s non-financial expenses increased from 19.9% to 20% of GDP.

Last June, the non-financial public sector registered a S/1.056 billion (about US$321.951 million) deficit, S/698 million (about US$212.804 million) lower than in the similar month in 2017.

Such performance was underpinned by an upturn in the general government’s current revenue (+24.9%).

This was mainly supported by higher tax revenue (+27.4%) composed of general sales tax (+17.5%), income tax (+20.2%), and excise tax (+55.2%).

On the other hand, the general government’s non-financial expenses expanded 10.3% in the sixth month of the current year.

Said rise was a result of increased current expenditure (+8.2%) in the three levels of government.



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