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The Ministry of Economy and Finance (MEF) has again cut its GDP forecast for the end of 2022 and 2023.
As stated in the presentation on the progress of Plan Impulso Peru, at the end of this year Peruvian economy it will rise by 2.7-3%, and not by 3.3%, as predicted in August.
In August, GDP expectations were already adjusted downward in the Multi-Year Macroeconomic Outlook (MMM), as economic growth of 3.6% was projected at the beginning of the year.
For 2023, the MMM indicates a growth forecast of 3.5%, but now the IEF indicates that growth GDP next year it will be from 3.1% to 3.9%.
Despite this downgrade, Economics Minister Curt Burneo said “we are not talking about a recession.”
Burneo indicated that this lower expectation is due to the influence international economics and extension of the reactivation plan.
New measures
Faced with this situation, Minister Kurt Burneo introduced 10 new measures to stimulate economic activity, which will include others announced under the Impulso Peru plan:
- Law establishing emergency measures to encourage and promote private investment for a period of 3 years.
- Temporary additional deduction of 50% of expenses for one year for hiring new employees.
- Accelerated depreciation regime for machinery and equipment for activities related to the production of textiles, clothing and footwear.
- Modification of the IGV early recovery regime, which provides financial assistance to companies at the pre-operational stage.
- Supporting the real estate sector by extending for three years the special income tax regime provided by FIRBI, which is valid until 2022.
- Sectoral measures to attract investment in the aquaculture and forestry sector.
- Rise of the naval industry and mypes.
- Greater decentralization of work for taxes to accelerate the elimination of gaps in infrastructure by encouraging the participation of the private sector.
- FISE discount voucher program for 10 kg gas cylinders.
- Services for obtaining a building permit and a building permit for the commencement of public works and opportunities for obtaining an environmental study. in order to accelerate the implementation of state investment projects.
Source: RPP
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