Peru's Kuczynski tightens proposed target for fiscal deficit


  • World
  • Saturday, 11 Jun 2016

LIMA (Reuters) - Incoming Peruvian President Pedro Pablo Kuczynski has scratched his proposal to widen the fiscal deficit to 3 percent of gross domestic product after credit rating agencies expressed concern, his pick for finance minister Alfredo Thorne said on Friday.

Thorne, who like Kuczynski is a former investment banker and World Bank economist, said the plan is now to run a 2.8-2.9 percent deficit in 2017 before leaving it at 1 percent in 2021.

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