Peru's Fiscal Pact: A New Hope for Economic Stability
Update: 2025-12-18
Description
Peruvian President José Jerí convenes a significant meeting to establish a fiscal pact, aiming to maintain economic stability amidst upcoming elections and political turmoil. The gathering includes state organizations, businesses, and civil society leaders. The pact aims to protect Perus future, moving past political cycles. Peru targets a fiscal deficit of 2.2% of GDP this year, after missing the goal for two consecutive years. The fiscal watchdog warns of potential economic instability due to legislative initiatives approved over the past four years, with ten projects alone carrying an annual fiscal cost of $7.4 billion. Some attendees suggest legal action to annul certain spending initiatives, such as public employee bonuses and tax exemptions.
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