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Monday, April 8

iWon / Reuters Peru's econ minister sees possible tax hikes, spending cuts: "'The higher budget deficit in the first quarter is not the result of higher spending but a lack of income and that's a result of something we had expected -- a reduction in income tax,' Kuczynski told El Comercio. Peru has forecast a budget deficit of 1.6 percent of gross domestic product in the first quarter, and a full year deficit of up to 2.2 percent of GDP. He said tax authorities were chasing tardy payments." Money is scare in Peru.



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