Economics
Peru Requests Legislative Powers in Bid to Reach 5% Growth
- Package of measures bring together key campaign proposals
- Government seeks to cut sales tax, boost banking competition
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Peru’s new government asked Congress for permission to cut taxes and speed up infrastructure investment to meet President Pedro Pablo Kuczynski’s pledge to boost economic growth to 5 percent.
The cabinet presented a request to Congress on Thursday for legislative powers that if approved, would allow the government to rule by decree in certain areas for 120 days, avoiding potential gridlock in an opposition-controlled parliament.