Peru's Public Budget for the fiscal year 2018 will mainly focus on the government-run social revolution, for which five pillars are being reinforced, Prime Minister Mercedes Araoz affirmed Monday.
According to the government official, such pillars are represented by health,
education,
sanitation, housing and agriculture sectors.
Remarks were made during her participation in the Parliament plenary session to support the Budget and Indebtedness Bill for 2018.
In this sense, Araoz noted priority has been given to the Reconstruction with Changes Plan, as well as the infrastructure sector's growth.
Within this framework, the also Second Vice-President announced 2018 Budget is worth S/157.159 billion (about US$48.505 billion).
According to Araoz, nearly 26% of the said amount will be allocated to continue reducing public infrastructure gap; that is a 20.5% increase compared to 2017's budget.
"It's the highest rate registered in recent years," she expressed.
Araoz also highlighted progress is being made in terms of decentralization, as 29% of the 2018 Budget will be earmarked for Lima Metropolitan Area and Callao region.
Sectors
Finally, she pointed out the resources to be allocated to each sector.
Thus, the health sector will receive S/16.373 billion (about US$5.053 billion) followed by: sanitation, S/6.870 billion (about US$2.120 billion); housing, S/2.420 billion (about US$746 million); and agriculture, S/5.340 billion (about US$1.648 billion).