Bloomberg News

Peru’s 2012 Budget Includes Fiscal Stimulus Plan, Minister Says

November 26, 2011

Nov. 26 (Bloomberg) -- Peru’s 2012 budget includes 500 Peruvian new soles ($184 million) of fiscal stimulus, Finance Minister Miguel Castilla said today, according to an e-mailed statement from his ministry.

The budget was approved by Congress on Nov. 24.

As part of the stimulus package, amounts left unspent by local and regional governments and ministries such as education and health can be carried into next year, Castilla said in the statement. Peru’s fiscal stimulus will reach the equivalent of 1.8 to 2 percent of gross domestic product, he said.

The government is prepared to spend as needed to maintain growth, Castillo told Bloomberg News on Nov. 11. Peru’s economy, the sixth-largest in South America, is expected to grow 6.2 percent this year, according to International Monetary Fund data.

--Editors: Joe Sabo, Sylvia Wier.

To contact the reporter on this story: Sebastian Boyd in Santiago at sboyd9@bloomberg.net.

To contact the editor responsible for this story: David Papadopoulos at papadopoulos@bloomberg.net.


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