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Peru PM: 2020 Budget supports decentralization, relies on social approach

15:08 | Lima, Nov. 22.

Peruvian Prime Minister Vicente Zeballos on Friday affirmed that the General Budget for Fiscal Year (FY) 2020 relies on a social approach and seeks to strengthen the decentralization process in order to improve Peruvian citizens' quality of life.

"We are ratifying our commitment to a committed, inclusive, and decentralist administration that attends to all male and female Peruvians in a timely manner," Zeballos expressed while referring to Urgency Decree No. 014-2019 published today.

The high-ranking official said the 2020 Fiscal Year Budget Law, the Public Indebtedness, and the Budget's Financial Balance Law are tools that enable the country to rely on a responsible and prudent economic policy assumed by the Government to boost growth, as well as economic sustainability.

He explained that it amounts to S/177.367 billion (about US$52.5 billion), having an increase of 5.5% compared to the previous year.

This bill prioritizes seven axes such as: education and health; fight against violence towards women; decentralization; (protection against) cold, frost, and snowfall; regional road maintenance; risk management; and justice reform.

"We are working to strengthen the decentralization process by empowering both local and regional governments (…)," the head of the ministerial cabinet stated.

Investment projects

Zeballos also noted that the Executive Branch promotes the continuity of investment projects.

To this end, S/2.664 billion (about US$788.63 million) will be transferred to regional and local governments, so that they can complete the initiated projects.

These resources will be available from the first business day of next year.

Public investment will also have an increase of 7%.

(END) NDP/MVB

Published: 11/22/2019
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