Public spending to increase 30% despite proposed drop in customs tariffs

The council of ministers today began evaluation of a plan to reduce customs tariffs on goods entering Peru. Finance minister Luis Carranza hailed this as a good move for boosting the economy, more productive than reductions in other forms of tax.

On the other hand, he acknowledged that the government’s plans to increase public spending by 50% this year will not be possible, given a slight drop in spending over the first quarter, due to the political cycle: changes in government at the local and regional levels meant that officials were unable to put new plans into effect.

He said that 30% will hopefully prove to be an attainable figure.

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