Prime Minister Pedro Cateriano and the head of the Finance Ministry Alonso Segura present the Public Sector Budget Bill for 2016 before the Congress of the Republic.
The government has issued the Public Sector Budget Bill for 2016, which aims at allocating funds worth S/.138.490 billion (about US$42.7 billion) for the central, regional and local governments during the next fiscal year.
It should be noted the Ministry of Economy and Finance (MEF) has recently published an emergency decree raising 2016 fiscal deficit from 2% to 3% of GDP.
According to Minister Segura, the 3% of GDP fiscal deficit target for 2016 does not affect the country’s macro-economic levels at all, since "our economy has the fiscal strength to support such decisions."
Segura pointed out that part of this decision has been taken based on prevention and reconstruction actions that will be undertaken to mitigate the impacts of El Niño climate phenomenon.
(END) MVF/MVB