Economy and Finance Minister Elmer Cuba indicated that, if the current pace of fulfilling the commitments required by the Organisation for Economic Co-operation and Development (OECD) is maintained, Peru could complete its formal accession to this international organization in the second half of 2028.
To oversee the technical progress made under this roadmap, the Ministry of Economy and Finance's (MEF) head confirmed that he will make an official visit to the OECD headquarters in Paris next December.
"I will travel in December to review the deadlines we still have to meet and move swiftly through that process," Cuba said.
"We estimate, in principle, that we could join in the second half of 2028 if we maintain a good pace with all the ministers and Congress," he underscored.
The government official indicated that, although the accession process launched in 2022 was delayed by political instability in Peru, the continuity horizon offered by the current Government makes it possible to foresee much faster progress in this process.
The OECD brings together 38 countries and promotes public policies aimed at economic growth, the population's well-being, and institutional strengthening.
Peru's accession to this organization will provide access to international standards and good public management practices, strengthen investor confidence, and improve the quality of public policies for the benefit of citizens.
First 100 days in office
On another note, Minister Cuba reported on the results of the measures introduced to address Peru's economic situation during the Government's first 100 days in office.
In this regard, he highlighted the measures included in the countercyclical policy to be implemented in 2027 to address the economic impact of El Niño phenomenon and the international crisis triggered by rising oil prices and global interest rates.
"We have announced strong fiscal measures to prevent the economy from slowing down," Cuba said.
"These include not only direct transfers to the most vulnerable people, but also maintenance mechanisms for schools, hospitals, health centers, and police stations, which represent rapid direct spending that will reactivate the economy," he explained.
Lastly, the Cabinet member stated that the MEF will direct the resources allocated to regional and local governments toward completing public works.
He announced that his sector will conduct a more thorough assessment of the launch of new public works projects, particularly when other projects remain unfinished.
"Only essential public works projects may be launched. The focus will be on completing those already started by his predecessors," he emphasized.
The MEF reaffirms its ongoing commitment to adopting timely measures aligned with the Government's objectives.
These measures will ensure a coordinated, efficient, and decentralized State response to the risks associated with El Niño phenomenon and external factors that could affect economic growth and the well-being of all Peruvians.