Peru’s third-quarter fiscal deficit narrows

LIMA, Nov 27 (BestGrowthStock) – Peru’s third-quarter public sector
fiscal deficit narrowed to 1.3 percent of quarterly gross
domestic product from 3.2 percent in the same period last year
as economic growth lifted tax revenues, official data showed on
Saturday.

The Andean country’s economy is forecast to grow more than
8 percent this year and tax revenues have surged while
government spending under last year’s stimulus package has been
curtailed.

In a statement, the central bank said the country’s current
account deficit widened to $846 million, or 2.2 percent of GDP,
in the third quarter as strong domestic demand pushed up
imports.

In the same period a year ago, Peru had a current account
surplus of $264 million, or 0.8 percent of GDP.

The country’s capital account surplus for the third quarter
jumped to $6.67 billion, or 17.3 percent of GDP, reflecting
strong inflows of long-term foreign investment.

In the same period a year ago, Peru’s capital account had a
deficit of $610 million as the global recession slowed foreign
investment.
(Reporting by Terry Wade; editing by Mohammad Zargham)

Peru’s third-quarter fiscal deficit narrows