Ministry of Economy and Finance (Peru)

The Ministry of Economy and Finance of Peru is the entity in charge of the planning and execution of the economic policies of the Peruvian Government with the goal of optimizing the economic and financial activities of the state, establish macroeconomic activity, and achieve the sustainable growth of the nation's economy. Its headquarters is located in Lima. The current Minister of Economy and Finance is María Antonieta Alva.

Minister of Economy and Finance
Ministro del Economia y Financia
Incumbent
María Antonieta Alva
since Oct 3rd, 2019
StyleMinister
Reports toPrime Minister of Peru
ResidenceMinistry of Economy and Finance
SeatPalacio de Gobierno
AppointerPresident of Peru
Martin Vizcarra
Term length< 10/03/2019-2021
Inaugural holderJosé de San Martín (de facto)
José de la Riva Agüero (first to bear the title)
FormationFebruary 28, 1823
SuccessionGeneral Secretary of Economy and Finance
DeputyVice Minister of Economy
Vice Minister of Housing
Websitehttps://www.mef.gob.pe/es/
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History

On August 13, 1821, José de San Martín, president of Peru, created the General Secretariat of Finance along with the Chancellery, and the War and Navy Department. The first minister of Finance was Hipólito Unanue.

On March 2, 1969 the fundamental law of the Ministry of Finance, Law Decree Nº 17521, which gave the basis for the structure and function of the Ministry of Finance and on June 13, 1969 its name was changed to the current Ministry of Economy and Finance.

By the Law Decree Nº 23123 of July 9, 1980, the name of the ministry was changed again to the Ministry of the Economy Finance and Commerce and it was incorporated into the State Department of Commerce which belonged to the Ministry of Industry, Commerce, Tourism, and Integration. On January 30, 1985 the name was changed back to what it is today.

Functions

The ministries main functions are:

  • To plan, direct, and control affairs relating to fiscal policy, finance, debt, budget and treasury.
  • To plan, direct, and control the policies of State-run financial agencies as well as harmonize economic activity.
  • To plan direct and control affairs related to tariffs.
  • Efficiently manage the public resources of the government.

See also
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