Email a colleague
  • To include more than one recipient, please seperate each email address with a semi-colon ';', up to a maximum of 5 email addresses


Peru lays out 2015 debt plans 0

Aug 29, 2014

Peru plans to raise $2.16bn outside the country and PEN7.5bn ($2.4bn) locally to finance its 2015 budget, the finance ministry said on Thursday.

The budget calls for a 15% increase in public spending, to PEN130.6bn. The government expects 6% growth next year, up from the 4.2% forecast for 2014. That would help debt to come down to 17.7% of GDP in 2017, from 19.6% in 2013.

Fitch noted that economic growth slowed to 1.7% in the first quarter, but said the economy may pick up thanks in part to mining investment.

The agency said the country has scope to maintain its BBB+ rating if growth remains slow: "Nevertheless, if prolonged, the slowdown could constrain Peru's sovereign credit profile by retarding growth in per capita GDP toward levels more comparable with peer investment grade commodity exporters and higher rated sovereigns."


Post a comment
  • All comments are subject to editorial review.
    All fields are compulsory.



LatinFinance Events

Poll

Are populist governments like Venezuela & Argentina turning pragmatic?

Vote