Peru records fiscal surplus in 2011

LIMA: Peru recorded a fiscal surplus of 7.99 million soles ($2.99 million) in 2011 compared with a fiscal deficit of 2.21 million soles ($820,513) in 2010, the central bank said on Friday.

The central government's income increased in part due to a 13.3 percent rise in tax revenue last year, according to the central bank.

Peru is the world's No. 2 producer of copper, silver and zinc, and the value of its exports grew for much of 2011 due to high prices paid for metals on global markets.

The economy is expected to have grown around 7 percent in 2011, and the government says growth will likely slow to 5.4 percent in 2012 due to uncertainty abroad.