Peru: Public investment executed in Jan-May reaches around US$3.8 billion

Photo: Authority for Reconstruction with Changes (ARCC)

08:33 | Lima, Jun. 2.

The Ministry of Economy and Finance (MEF) reported that public investment executed between January and May this year reaches approximately S/14 billion (around US$3.8 billion), up 14.8% compared to the same period in 2022.

Thus, the government agency states that public investment consolidates its trend as economic recovery pillar and has maintained an important growth pace so far this year.

Economy-Finance Minister Alex Contreras remarked that the amount registered in January-May constitutes the largest executed in the past 13 years for said period.

Besides, this is the best public investment execution for the beginning of a new administration.

In a live broadcast on MEF's digital platform, Contreras affirmed that this execution represents a 22.5% increase from its Modified Institutional Budget (PIM).

Likewise, the minister stressed that 49.8% of the total amount was executed by National Government entities.

Boost to investment

Minister Contreras went on to say that, on May 10, with the publication of Legislative Decree No. 1553 (Legislative Decree that establishes measures on public investment and public procurement to support the economic recovery boost), important actions for the modernization of public investment management have been established.

Among the most important measures is the designation of MEF's General Directorate of Multi-annual Investment Programming (DGPMI) as Center of Excellence to develop project management tools, which will provide specialized support —in said area— to public entities and companies subject to the National Multiannual Programming and Investment Management System.

This is through the implementation of Project Management Structures (EGP), designed based on the needs of each entity, in order to strengthen the management of projects and improve the provision of services to citizens so as to reduce the existing gaps.

(END) NDP/SDD/RMB/MVB

Published: 6/2/2023

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Peru: Public investment executed in Jan-May reaches around US$3.8 billion

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