LIMA, Nov 27 (Reuters) - Peru's Congress approved on Friday a public-sector budget for 2010 of 81.86 billion soles ($28.34 billion), a 13.1 percent increase from this year, hoping higher spending will help to boost to economic growth.
Congress did not make major changes to the proposal President Alan Garcia sent it three months ago.
It contains a projected 2010 fiscal deficit outlook of 1.6 percent of gross domestic product, the same as what was forecast in August.
Peru's economy, which expanded nearly 10 percent last year, is expected to grow just 1 percent this year as the global crisis has sent prices for most of the country's metals exports plummeting and cooled domestic demand.
The government expects growth to pick up next year to around 5 percent.
The budget passed with 51 votes in favor and 26 against.
($1 = 2.88 soles)
(Reporting by Dante Alva and Teresa Cespedes; Writing by Dana Ford; Editing by Diane Craft) Keywords: PERU CONGRESS/BUDGET (dana.ford@thomsonreuters.com; +511 221-2130; Reuters Messaging: dana.ford.reuters.com@reuters.net) COPYRIGHT Copyright Thomson Reuters 2009. All rights reserved. The copying, republication or redistribution of Reuters News Content, including by framing or similar means, is expressly prohibited without the prior written consent of Thomson Reuters.
Congress did not make major changes to the proposal President Alan Garcia sent it three months ago.
It contains a projected 2010 fiscal deficit outlook of 1.6 percent of gross domestic product, the same as what was forecast in August.
Peru's economy, which expanded nearly 10 percent last year, is expected to grow just 1 percent this year as the global crisis has sent prices for most of the country's metals exports plummeting and cooled domestic demand.
The government expects growth to pick up next year to around 5 percent.
The budget passed with 51 votes in favor and 26 against.
($1 = 2.88 soles)
(Reporting by Dante Alva and Teresa Cespedes; Writing by Dana Ford; Editing by Diane Craft) Keywords: PERU CONGRESS/BUDGET (dana.ford@thomsonreuters.com; +511 221-2130; Reuters Messaging: dana.ford.reuters.com@reuters.net) COPYRIGHT Copyright Thomson Reuters 2009. All rights reserved. The copying, republication or redistribution of Reuters News Content, including by framing or similar means, is expressly prohibited without the prior written consent of Thomson Reuters.