Peru; Selected Issues Paper

Peruâ€™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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Year of publication:	2012-02-01
Institutions:	International Monetary Fund (IMF) ; International Monetary Fund
Subject:	Selected issues \| fiscal policy \| fiscal framework \| expenditures \| fiscal impulse \| structural fiscal \| fiscal stabilization \| expenditure \| fiscal balances \| fiscal position \| fiscal discipline \| fiscal responsibility \| fiscal stimulus \| fiscal policies \| government spending \| tax rates \| fiscal targets \| fiscal revenue \| tax collections \| fiscal surpluses \| tax changes \| expenditure ceiling \| public finances \| taxation \| tax income \| fiscal projections \| fiscal space \| spending control \| public debt \| fiscal policy objectives \| fiscal stance \| revenue collection \| fiscal stimulus package \| fiscal affairs \| fiscal rules \| fiscal affairs department \| fiscal operations \| fiscal savings \| fiscal frameworks \| fiscal management \| fiscal rule \| budgetary process \| fiscal cost

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Extent:	application/pdf
Series:	IMF Staff Country Reports.
Type of publication:	Book / Working Paper
Notes:	The text is part of a series IMF Staff Country Reports Number 12/27 4 pages long
Source:	RePEc - Research Papers in Economics

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