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Peru experiences infrastructure boom and highest investment rate in the region

LIMA PERÚ, ABRIL 28. Ministro de Economia, Alonso Segura durante su participación en el Foro Estado Moderno al Servicio del Ciudadano. Foto: ANDINA/Melina Mejía

LIMA PERÚ, ABRIL 28. Ministro de Economia, Alonso Segura durante su participación en el Foro Estado Moderno al Servicio del Ciudadano. Foto: ANDINA/Melina Mejía

16:45 | Lima, Apr. 28.

Peru is experiencing an infrastructure boom, bringing spending above 5% of the gross domestic product (GDP), higher than the regional average of 3.5%, Economy and Finance Minister (MEF) Alonso Segura said on Thursday.

After opening the forum “Modern State at the Service of Citizens,” Segura said the required amount is significantly higher than that of the public account at present time.

“We are witnessing a boom in infrastructure. Our spending is well above the regional average; Peru spends more than 5% in infrastructure, supported by Public–Private Partnerships (PPPs),” he stated.

While Latin America invests 3.5% of GDP on average, he noted, Peru’s investment rate is higher, particularly in a context in which incomes have declined considerably due a slowdown in growth worldwide and, therefore, as a result of lower commodity prices. 

“I believe this pace has to remain unchanged, agendas must be tailored to diversify the economy, we also have to move forward regarding competitiveness, protect the most vulnerable ones, and take into account social policies that have to continue,” he affirmed.

The government official pointed out that besides the fact that we are enjoying a better situation, compared to other countries in Latin America, Peru is leaving an organized house on the right track. 

(END) JCC/JJN/RMB/MVB

Published: 4/28/2016
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