on Friday reported that micro and small enterprises (MSEs) account for 21% of gross domestic product (GDP) and 99% of formal employment in Peru.
"We have to continue advancing in this process of reactivating the economy as a whole, but also reactivating MSEs, because they represent a very relevant sector in (terms of) production; MSEs account for 21% of GDP, more than 99% of formal employment, and they hired more than 60% of the EAP," Contreras specified
"We cannot talk about reactivation without reactivating the MSEs; in this sense, the Government has been announcing a series of programs: Con Punche Productivo, Con Punche Textil focused on MSEs, Con Punche Turismo, and we are moving forward," he added.
During the presentation of Con Punche Textil, the Cabinet member recalled that the first Impulso MyPerú auction had taken place last week. At the event, more than S/400 million (over US$107 million) was allocated —with low interest rates.
"Thanks to this program, MSEs will pay interest rates as if they were large companies, and that is a key boost for productivity. Today, there will be a second auction in the afternoon, probably Peru's Development Finance Corporation (COFIDE) will announce the results," he stated.
The high-ranking official indicated that the Government will continue boosting economic growth in the short and long terms. Thus, it is making progress on the development of new growth engines. In the following weeks, it will continue promoting new measures.
"There are definitely medium and long-term challenges that we want to solve during this administration. There are problems to credit access (…), as well as productivity problems, high informality," Contreras said.
"We have to continue advancing in innovation, in continuing to look at the world, and that is why the Mincetur-Produce-MEF (Ministries of Foreign Trade-Tourism, Production, and Economy-Finance) articulation is very important in this process of raising the country's potential growth and, once and for all, think about Peru's economic development," he added.