Andina

Latin Pacific: Peru Gov't has clear objective to close infrastructure gaps

17:36 | Lima, Nov. 14.

Latin Pacific Capital Vice-President Emilio Zuñiga on Thursday affirmed that the Peruvian State is being organized and that public investment is being prioritized with the clear objective of closing infrastructure gaps in the country.

"The infrastructure gaps shall be closed. Fortunately, the (Peruvian) State is being organized, and public investment is being prioritized," he told Andina news agency.

As is known, the Executive Power has recently issued an urgency decree with the objective of establishing extraordinary measures that contribute to the improvement of public investment execution through public spending by regional and local governments.

Via Urgency Decree No. 011-2019 —published in the official gazette El Peruano— the Economy and Finance Ministry (MEF) is authorized to make budgetary modifications for S/200 million (about US$60 million) in 2020 to finance the implementation of an incentive aimed at promoting the increase in the investment execution capacity of regional and local governments.

The regulation also authorizes MEF to redirect resources in 2019 for the financing of regional and local governments' investments considering that they meet the criteria established in the documents attached to the urgency decree.

Zuñiga said this is a breakthrough which "is going the right way."

"The people, who need it most, suffer because they don't get the benefits of having a growing economy. Hence the importance of advancing in closing the infrastructure gaps," he stated.

(END) SDD/JJN/MVB

Published: 11/14/2019
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