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Andean Group - March 2015 (ISSN 1741-4466)

ECONOMY: Looking to spend its way to recovery

The Peruvian government plans to continue pursuing an expansionary fiscal policy to counteract the economic slowdown affecting the country since mid-2013. On 19 March the finance ministry sent a bill to congress to allow it to exceed the structural budget deficit limit for the next three years, as part of the plans to stimulate growth. The government now plans to post a structural deficit of 2.5% of GDP in 2015, falling to 2% in 2016, 1.5% in 2017 and 1% in 2018. Under Peru’s fiscal framework, the structural deficit is not meant to exceed 1% of GDP.

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