Andina

Peru Reserve Bank: Reconstruction-related expenses to boost economy

Se ampliará la infraestructura del proyecto Chavimochic que se ejecuta en La Libertad.

Se ampliará la infraestructura del proyecto Chavimochic que se ejecuta en La Libertad.

11:05 | Lima, Mar. 15.

Public investment and spending aimed at rehabilitating damages caused by heavy rains and floods will help invigorate Peruvian economy, Central Reserve Bank Governor Julio Velarde informed.

"Part of expenses aimed at rehabilitating damages caused by rains and floods, especially in the country's northern area, will also help boost economy," Velarde said.

Announced last week by the government, the Executive Power's economic stimulus package was highly needed to invigorate national GDP, the BCR head added.

"Increasing public investment was essential, and we are doing it. Now, the challenge is not just to set a higher amount, but also to execute it [...]," he affirmed.

Optimism

Although business confidence decreased over August 2016, it is still on the optimistic stretch. 

"We expect this [optimistic stretch] will be reflected on the economy, the launching of public investment and the [positive] impact of better export prices [...]," he stated. 

(END) JHM/MVB

Published: 3/15/2017