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Get off the Ground, Peru Program has clear vision on reactivation plan

14:16 | Lima, Jun. 16.

Latin Pacific Capital Vice-President Emilio Zuñiga on Tuesday affirmed that Arranca Peru (Get off the Ground, Peru) Program shows a clear vision of what the Government plans to do in the coming months to boost the economic reactivation in a post-coronavirus stage.

"It will take a few months, but it will have a favorable impact on the national economic reactivation," he told Andina news agency.

In this sense, Zuñiga highlighted the contribution of public investment as a production apparatus engine to overcome this situation.

It should be noted that —in order to boost the economy and create jobs in the shortest possible time—

President Martin Vizcarra on Monday announced the creation of Arranca Peru (Get off the Ground, Peru) Program, which will generate 1,009,700 jobs through an investment of S/6.436 billion (about US$1.858 billion).

"We are proposing a series of important investments that will be approved at the Council of Ministers session on Wednesday by means of an Urgency Decree so that investments happen in the shortest possible time and can be reflected in the second half of 2020," the Head of State said on the occasion.

In this regard, Zuñiga stressed the importance of ensuring the rapid execution of projects included in this program in order to achieve the expected effects in the shortest possible time.

"It is essential to streamline processes and reduce excess procedures. In addition, there are projects which are already approved and had been stalled due to the health emergency. In those cases, the most convenient thing is to resume those works," he expressed.

On the other hand, the economist projected that private investment will be reactivated towards the start of next year because there is an installed capacity which is not being used at the current moment.

"There is idle installed capacity and unused raw material. These factors must first be used in order to resume the private investment cycle," he said.

(END) SDD/MVB

Published: 6/16/2020

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Get off the Ground, Peru Program has clear vision on reactivation plan

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