Public investment worth S/27 billion (about US$7.65 billion) will be injected into Peru's economy during the second half of the current year, Prime Minister Pedro Cateriano affirmed on Monday.
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This accumulated fiscal space, which is the outcome of discipline and efforts, will allow an injection of resources worth nearly S/27 billion (about US$7.65 billion) in the second half," he added.
The Cabinet chief considered that —in the current difficult situation, in which the incomes of families and companies have been affected— it is essential that the Peruvian State generates a strong boost to the economy supported by an
expansive fiscal policy that encourages demand, as well as contributes to the rapid recovery.
"The macroeconomic strengths of Peru will be essential to support the measures that we will execute in this last year in office," he said.
Public investment
Furthermore, Cateriano said that —in order to boost public investment in the remainder of the year— budget execution is monitored on a daily basis. For 2020, it amounts to about S/11 billion (about US$3.11 billion), supported by a monitoring and incentives system, which recognizes the regional and local governments that have reached a higher level.
"Thanks to that, we foresee that investment in schools, hospitals and highways will grow strongly, create jobs and be one of the engines for the reactivation of the level of production, which is already underway," he concluded.