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Peru: Gov't launches Boost Plan with three fundamental pillars to boost growth

Photo: ANDINA/Andres Valle

Photo: ANDINA/Andres Valle

15:06 | Lima, Sep. 8.

Economy and Finance Minister Kurt Burneo on Thursday presented the Peru Boost Plan containing three fundamental pillars, whose purpose is to accelerate the growth rate of the Peruvian economy.

The plan aims to reactivate and enhance sustained economic growth, as well as to promote job creation.

Gap closure acceleration

According to the government official, the plan will also implement measures that are intended to support the most vulnerable population, due to the economic slowdown and the rise in prices at the international level, which have impacted the prices of food and fuel at the local level and reduced aggregate demand. 

Said measures are consistent with the fiscal responsibility framework.

In addition, it proposes accelerating the closing of structural gaps, by promoting productivity and competitiveness through measures focused on the most intensive job-generating sectors.

The measures and actions in the Peru Boost Plan seek —in the short term— to ensure the sustained growth of economic activity, promoting public and private investment, increasing the use of installed capacity, and creating a greater demand for formal employment and private consumption.

"Meanwhile, in the medium and long terms, said measures seek to achieve higher rates of potential growth, through greater promotion of productivity and competitiveness, as well as to accelerate the closing of infrastructure and structural gaps (poverty, informality, health, education, etc.)," Burneo remarked.

Three fundamental pillars

The Peru Boost Plan includes measures and actions aimed at reviving the economy and boosting GDP growth, which are divided into three pillars:

1) Improvement of conditions for private spending.

2) Acceleration of public investment.

3) Restoration of confidence.

(END) NDP/VLA/RMB/MVB

Published: 9/8/2022
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