The Minister of Economy and Finance, Alex Contreras, conditioned the discussion on the increase in to the growth of the Peruvian economy.

In addition, he pointed out that a possible increase must first pass consensus within the National Labor Council.

“There has to be consensus, and without growth there can be no adjustments in these variables. “What we hope is that when the economy starts to grow again, when we have robust news, we can, through consensus, reach a solution.”he said at a press conference.

For contreras, two elements must be considered, the growth of the economy and the loss of purchasing power of salaries.. “That has to be taken to the National Labor Council. In robust growth, sales improve, the ability of companies to meet their obligations, and employment is generated.”he added.

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It is worth remembering that on Tuesday, the Minister of Labor and Employment Promotion, that this year could be a good time to discuss the increase in the minimum wage, considering that, according to the head of the MEF, we could emerge from the economic recession.

On the subject, Ricardo Herrera, main partner of Estudio Muñiz, agreed that, due to the context of recession that the country is experiencing, it is not advisable to increase the RMV, as it could generate the loss of formal jobs.

“The first thing is to recover the economy to be able to think about improving the RMV. Furthermore, as the minister said, it is an issue that is the responsibility of the CNT, which is the social platform for consultation between workers, employers and the State on how and when it should be increased.”I note.

According to Herrera, three variables are considered for the increase: the cost of living, the economic situation of the country and, above all, the productivity of companies. Regarding the last point, he considered that, since 2021, productivity in the country has not been considerable. Therefore, companies are not able to absorb the increase in labor costs such as RMV.

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Petro-Peru

On the other hand, Contreras indicated that the possibility of a new capital contribution in favor of Petro-Perú is still being discussed in the Council of Ministers, and that the MEF’s position is to continue the restructuring plan of the state company.

“The most important thing is that the company’s restructuring plan that is already underway continues. Next week we will report more details. “We are working on that and we hope to reach a consensus for the good of Peru.”said.

The hydrocarbons expert, Carlos Gonzáles Ávila, emphasized what would happen if the Government decided not to provide financial support to Petro-Perú.

The specialist explained that the capital contribution requested is not for assets, but to cover liabilities and debts with suppliers. “What they ask for is to pay them. The question is what happens if they don’t give them (that money)? What will Petro-Peru do? Sell ​​part of your assets, but who will want to buy a company that is practically bankrupt?he added.

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Thus, Gonzáles stated that this should be a political decision of the State and, if the US$ 2,250 million are granted, the state company should not operate the oil lots.

“The only thing it will mean is postponing the investments that those lots need, because in two years Petro-Perú will not invest in them. Finally, we tighten our belts and give them (the capital), But we took away the lots and commissioned Perupetro to immediately tender them to the private sector, with an immediate investment commitment.”he pointed.

ISC

The head of the MEF indicated that the adjustment to the Selective Consumption Tax (ISC) also continues to be evaluated, which according to current regulations should occur this January.

“We are evaluating it. There is a significant delay. In practical terms, the load has been reduced, but we are evaluating it. We do not want to affect the reactivation, we will also communicate this at the time.”said.

Last year, the Executive decided to postpone the adjustment to the ISC because the country was ‘previous’ to the start of the El Niño Phenomenon (FEN), a fact that would harm many merchants.

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Carlos Casas, main professor of the Academic Department of Economics and Researcher at the Research Center of the Universidad del Pacífico, explained that updating the ISC would generate a deterioration in business expectations because, no matter how small the tax in collection is, it is a sign that would generate more negative expectations than we already have.

“What can be done is that, if next year inflation is already low and the economy recovers somewhat, the ISC could be increased to the same level as inflation, perhaps a little more. But now, definitely not. The situation is special enough to generate this movement in the expectations and reception of the private sector”he added.

For Casas, what should be considered now are the circumstances that must occur for this type of increases to occur and establish exception rules for the increase in the tax.



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