Andina

Peru President: Economy saw recovery in June

14:15 | Lima, Jul. 8.

The President of the Republic Martin Vizcarra on Wednesday affirmed that Peru's economy had experienced a recovery in June, adding that July will be key to setting the course for the reactivation of the national productive activity.

"We must reactivate the economy. Although the hardest months were April and May due to the rigid quarantine we had imposed in order to be able to contain the spread of the (COVID-19) virus, the information we have as of June shows an economic recovery with creation of jobs," he expressed.

"And this July, which began eight days ago, will be key to setting the course for the economic recovery supported by the generation of jobs, but without neglecting health care," he added.

In this sense, the Head of State emphasized that health remains the central axis of his administration, but —at the same time— the balance is sought for the resumption of economic activities and creation of jobs that allow Peruvians to rely on the necessary income to care for their families.

Furthermore, the top official underlined that "July must be a month which clearly shows where we are heading to. We must undertake all efforts; that is why, among other measures, we have declared only one day as holiday in order to make the most of the month."

"Consequently, on July 28, when we celebrate 199 years of our independence, that will obviously be a holiday, but it will be the only one this month. Let's put our efforts to produce, but let's produce while taking care of our health; that is perfectly achievable," he added.

President Vizcarra also stressed that the government's goal is to reach the end of July with a production capacity of 95%.

Reactiva Peru

On the occasion, Mr. Vizcarra highlighted that 93% of companies benefiting from the Reactiva Peru Program are micro, small, and medium-sized companies (MSMEs). 

As is known, the program seeks to ensure continuity in the payment chain by granting guarantees to micro, small, medium, and large companies so that they can access working capital loans, thus being able to meet their short-term obligations towards workers, as well as suppliers of goods and services.

The program started with S/30 billion (US$8.45 billion) in guarantees. Later —through Legislative Decree 1485— the amount of guarantees was increased by an additional S/30 billion (US$8.45 billion), reaching S/60 billion (US$16.9 billion), equivalent to 8% of GDP.

Today's remarks were made in a televised address to the nation during the state of national emergency against coronavirus in Peru.



On this occasion, the President was joined by members of the Council of Ministers. The event was held at the Government Palace in Lima.

(END) CNA/MVB

Published: 7/8/2020