Fiscal Balance in Peru
Peru - Fiscal Balance
The economy likely tapped the brakes in the first quarter of the year, following Q4 2018’s rebound in growth. Activity was subdued in the first two months of the year, weighed down by falling exports and manufacturing production, as well as by rising unemployment. However, healthy credit expansion and a surge in mining investment throughout the quarter should have cushioned the slowdown somewhat. On the fiscal front, the 12-month rolling budget deficit in March dropped to 1.9% from February’s 2.0%. The favorable fiscal developments led the Ministry of Finance to trim the 2019 fiscal deficit target to 2.2% of GDP from the previous target of 2.7%. Meanwhile, in early May, the government signed a Memorandum of Understanding (MoU) with China on the Belt and Road Initiative. The MoU is expected to bring increased infrastructure investment and should also lead to an expansion in the existing bilateral free trade agreement.Peru - Fiscal Balance Data
| 2013 | 2014 | 2015 | 2016 | 2017 | |
|---|---|---|---|---|---|
| Fiscal Balance (% of GDP) | 0.9 | -0.3 | -2.1 | -2.6 | -3.2 |
Peru Facts
| Value | Change | Date | |
|---|---|---|---|
| Bond Yield | 5.43 | -0.60 % | Oct 15 |
| Exchange Rate | 3.33 | -0.06 % | May 13 |
| Stock Market | 19,958 | -0.23 % | May 13 |
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Economic News
Peru: Consumer confidence rises in April
May 24, 2019
The consumer confidence indicator published by GfK rose to 100 in April from 94 in March.
Peru: Economic activity gains traction in March
May 16, 2019
Economic activity expanded 3.2% year-on-year in March, picking up pace from February’s 2.1% increase.
Peru: Trade surplus widens in March but strike at Las Bambas mine hampers exports
May 10, 2019
Peru’s trade balance recorded a USD 431 million surplus in March, widening from February’s USD 336 million surplus but lower than the USD 667 million surplus recorded in the same month of last year. Exports dived 11.8% year-on-year in March, due to lower prices and quantities, following February’s much softer 3.6% fall.
Peru: Central Bank holds its ground in May
May 9, 2019
At its monetary policy meeting on 9 May, the Central Bank of Peru (BCRP) kept the policy interest rate unchanged at an eight-year low of 2.75%, matching market expectations.
Peru: Businesses grow more pessimistic in April
May 8, 2019
The business confidence indicator declined from March’s 59.6 to 55.9 in April, but nevertheless remained above the 50-point threshold that separates optimism from pessimism, where it has been for two years. April’s decline came on the back of a broad-based deterioration in the sub-components of the index.
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