Andina

Peru Fin Min: Public investment up 15.5% in June 2019

13:59 | Callao (Callao region), Jul. 1.

Public investment execution increased 15.5% in June 2019 after May's decline, Economy and Finance Minister Carlos Oliva said on Monday.

According to the official, the month-on-month data does not mark a definitive trend as considerable variability is noticed.

"This investment is extremely necessary. We will not be able to improve our economy's competitiveness or close the gaps in basic service provision without timely, high-quality public investment," Oliva expressed. 

In this sense, the minister urged people to reflect on what can be done to increase public investment. To do so, the current "natural dynamic" between the Economy and Finance Ministry (MEF) and regional governments must change. 

"Regional governments have executed 20% of their revised institutional budget so far," he said. 

The official went on to add the national government's budget execution rate is slightly higher. Therefore, this is not a regional governments' problem, but a State problem. 

"As a State, we have executed 25% (of the budget). We definitely must reflect on these problems that do not let us carry out things as we should," Oliva concluded. 

Remarks were made at the 11th GORE-Executive meeting held in Callao region.

GORE-Executive meetings are aimed to spur actions that will encourage further development in the nation.

(END) CAN/JJN/DTK/RMB/MVB

Published: 7/1/2019
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