Finance Minister: the Peruvian government can raise mining taxes without affecting competitiveness

Peruvian Finance Minister Frank (Pedro Francke) said Monday that as long as metal prices remain relatively high, the government is confident of raising mining taxes without affecting the competitiveness of the private sector.

Pedro Francke also said on Monday that it believes the country's public spending may increase, but that the fiscal deficit can be reduced by raising taxes.

Peru is currently the world's second-largest copper producer and is highly dependent on the mining industry for revenue.