Peru's Fin Min: Public investment is getting back on track

Photo: ANDINA/Presidency of the Republic

Photo: ANDINA/Presidency of the Republic

00:01 | Lima, Nov. 27.

Economy and Finance Minister Waldo Mendoza has indicated that public investment in Peru was almost paralyzed —having registered a 73% drop in May— due to the COVID-19 pandemic and physical distancing policies.

"We are already witnessing a very interesting recovery in public investment, whose characteristic is that it not only boosts demand, but also creates infrastructure for the long term," he added.

The Cabinet member also highlighted the electricity production recovery, considering that there were sharp drops last April and May.

"In October, it (the electricity production indicator) was slightly negative, but it will surely be slightly positive in November, and we hope to continue on that path," he said.

"In April, according to figures that we will never see again, there was a 99% drop; it means that the economy was practically paralyzed, but there are recovery signs now, as we already have positive figures in September, October, and surely in November," he concluded.


Publicado: 27/11/2020