Peru: Government will allocate resources to face coronavirus

00:01 | Lima, Mar. 30.

Minister of Economy and Finance Maria Antonieta Alva indicated that the Peruvian Government will allocate resources equivalent to 12 points of the country's GDP in order to face the current coronavirus (COVID-19) emergency.

"As a Government, we are going to make all the necessary efforts. For now, we have projected 12 points of GDP. If more (resources) are required, then more will be given. The important thing for us is to protect employment and obviously get out of the coronavirus (problem) as soon as possible in order to start the economic reactivation process," Alva told Cuarto Poder TV show on Sunday night.

Moreover, the minister indicated that the Government's economic plan —aimed to face the coronavirus pandemic— has two stages: one of containment and the second linked to reactivation.

"For the containment stage, we project that we will spend S/30 billion (about US$8.764 billion) during the first phase. There is a second phase of containment, which has already been announced by the Central Reserve Bank Governor (Julio Velarde), a guarantee scheme for loans to companies worth S/30 billion and another stage of reactivation (also totaling S/30 billion)," she explained.

Click here to get to know other economic measures to face the COVID-19 emergency.


Published: 3/30/2020
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