Peru's Prime Minister Pedro Cateriano on Monday reported that the Government is evaluating measures to improve budget execution in the current context of health emergency caused by the COVID-19 pandemic.
"We are working with the
Minister of Economy (Maria Antonieta Alva) to explore ways to improve budget execution at the national, regional and local levels," he told Exitosa radio station, adding that S/12 billion (around US$3.417 billion) collected from the mining canon has not been yet executed by regional governments.
The high-ranking official stressed that self-criticism over the management of public affairs at the three levels of government is necessary at this stage, as well as a closer monitoring of the budget execution.
According to Cateriano, the private sector must be the source of wealth creation within the social market economy, as well as the engine of national development in a crisis like the one currently underway.
"The health crisis has affected employment, and the only way to reverse that is by normalizing work and creating more jobs. There is no magic wand for economy," said the Cabinet chief, who emphasized that one of his objectives is the country's economic revival and ruled out a shift to the extreme right.
(END) VVS/CVC/RMB/MVB
Published: 7/20/2020