LatinNews Daily - 03 September 2021

* Peru’s prime minister, Guido Bellido, and finance minister, Pedro Francke, have submitted the government’s draft budget for 2022 to congress. The PEN$197bn (US$48bn) budget proposal is 7.6% larger than the 2021 budget, and features increased spending on education (PEN$35.75bn; +7.9%), health (PEN$22.20bn; +5.8%), and agriculture (PEN$4.6bn; +10.4%). The budget was also increased for social services (PEN$7.10bn; +3.4%) and transport (PEN$19.20bn; +1%), among other sectors. Of the total proposed budget, PEN$12.13bn would come from the treasury, PEN$12.13bn would come from taxes, PEN$38.05bn from credit, PEN$27.78 from government and municipal funds, and PEN$230m from donations. A statement from the economy & finance ministry predicted that Peru’s fiscal deficit would shrink from 4.7% of GDP in 2021 to 3.7% of GDP in 2022.

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