PERU |
Growing fiscal surplus. Peru’s central bank (BCRP) revealed on 27 May that the country posted a fiscal surplus of 7% of GDP in the first quarter of 2012, one percentage point higher than the surplus registered in the same period last year. The BCRP explained it came as a consequence of higher government revenue, which increased by 0.4% in the period, and lower non-financial government spending, which decreased by 0.3%. This pushed up the government’s public savings by as much as 1.1 percentage points in the first quarter.
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