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Peru : Selected Issues Paper

Published: February 1, 2012
Electronic Access: Free Full Text (PDF file size is 818KB)
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Summary: Peru’s fiscal framework embedded in the Fiscal Responsibility and Transparency Law (FRTL) has proved to be effective in reducing debt. The FRTL embodies some countercyclical elements in response to output or commodity price shocks. The combination of a provision for a moderate deficit on the downside, and a current expenditure cap on the upside, allows for some countercyclical policy. It still has pockets of procyclicality in the face of large shocks to output or commodity prices.
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Series: Country Report No. 12/27
Subject(s): Selected issues
    Published:   February 1, 2012        
    ISBN/ISSN:   9781463940423/1934-7685   Format:   Paper
    Stock No:   1PEREA2012002   Pages:   44
    Price:   US$18.00
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