Nearly S/20 billion (US$6.169 billion) will be allocated for reconstruction, water, and sanitation works, as well as for the Lima Metro Line 2 and Pan Am Games implementation under FY 2018 Public Budget, Peru's Economy and Finance Ministry (MEF) said on Thursday.
Deputy Finance Minister Rossana Polastri explained the sector will spend S/7.078 billion (about US$2.183 billion) on
reconstruction works and S/4.022 billion (about US$1.240 billion) on water and sanitation projects.
"The budget earmarks S/2.765 billion (about US$852 million) for the
Lima Metro Line 2 project and another S/1.632 billion (about US$503 million) for the
Pan American Games —sporting event the country will host in 2019," she stated.
The government official disclosed 34% of such budget will be spent in Lima and the other 66% in the rest of the country.
Public investment
On the other hand, Economy and Finance Minister Fernando Zavala estimates
public investment has enjoyed two-digit growth in August 2017.
Speaking at a press conference, he said notable signs of recovery have emerged over the past months, thus suggesting a better economic performance.
(END) CNA/JJN/RMB/MVB
Published: 8/31/2017