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Weekly Report - 01 September 2016 (WR-16-34)

PERU: Thorne sets out his stall

Peru’s finance minister, Alfredo Thorne, delivered his first draft budget to congress on schedule on 30 August. Since taking up his post on 28 July, Thorne, a former senior World Bank economist, has taken a cautious stance, noting that he had inherited a “worrying” fiscal deficit that could make it difficult to initiate some of President Pedro Pablo Kuczynski’s priority projects. In an appearance before congress on 19 August, Thorne reported that the government had inherited a deficit of 3.3% of GDP to end July, well above the 2.5% that the previous government led by Ollanta Humala (2011-2016) had pledged to bequeath.

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