*Peru’s economy and finance minister, José Arista, has announced that the ministerial cabinet has reached an agreement on the 2025 national budget, which will now be voted upon by congress. Speaking at a press conference, Arista did not reveal the total cost of the budget but said that spending would rise by 4.5% compared with the 2024 budget, leaving a fiscal deficit amounting to 2.2% of GDP. He said that the budget would aim to decentralise spending, and that no regional or municipal government would receive less funds than they did under the current budget. Arista said that the budget had been drafted based on expected GDP growth of 3.0% in 2025.
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LatinNews Daily - 29 August 2024
In brief: Peru’s gov’t signs off on 2025 budget proposal
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