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Weekly Report - 07 June 2018 (WR-18-22)

PERU: Tuesta’s departure reveals government vulnerability

Peru’s President Martin Vizcarra accepted the resignation of his economy and finance minister David Tuesta on 4 June. The move came after Tuesta had raised excise tax rates on a range of products deemed harmful to public health and the environment, including used cars, cigarettes, soft and alcoholic drinks, and diesel fuel. The increased tax rates sparked protests in some of Peru’s main regions. Saying his government was “on the side of the people”, Vizcarra replaced his minister and promised that the administration would henceforth seek to base economic growth on improved tax collection, rather than higher tax rates. But the sudden replacement of such a key minister (Tuesta had been in office for only two months) may give a variety of pressure groups the impression that the new government is weak and easily turned.

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