MEF powers are non-negotiable, Fernando Carvallo [COLUMNA]

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Twenty days after taking office, the Minister of Economy and Finance announced the leading role of his ministry in the government’s economic policy. Simultaneously with the presentation of the Multi-Year Macroeconomic Framework, Kurt Burneo made some important clarifications on the performance of the Peruvian economy, but also announced some commitments regarding its management: 1) economic policy is determined FEM, although there are other ministers who claim to have initiatives in their sectors. Pundits interpret this as a warning to the ubiquitous Foreign Trade Minister, who has proposed launching a third version of the Reactiva program. 2) A tax on surplus mining will not be created, no matter how the increase in the international price of copper excites the appetites of the voracious State Treasury. Thesis FEM is that the mining sector is subject to international fluctuations and internal conflicts that have paralyzed important projects. 3) At the same time, Burneo declared that other taxes would not be reduced, as claimed by those who sought to follow the example of reduction VAT to the restaurant department.

Forecasts FEM they have slight differences from the Central Bank data, since they provide for growth of 3.3% for the current year and 3.5% for the next year. What they agree on is the downward trend in inflation, which will stimulate domestic demand.

It remains to be seen if Burneo will have the political power to defend autonomy. FEMsince we already know how easy it is Peter’s castle change their ministers. Let’s hope the minister’s fate is not like that of the musicians on the Titanic, who continued to play waltzes and minuets as the ocean liner sank in the icy waters of the ocean.

Things as they are