Peru: Public investment execution advances, reaches US$1.43 billion

19:00 | Lima, Mar. 22.

Economy-Finance Minister Alex Contreras on Wednesday highlighted the fact that public investment execution is moving forward quite well.
Within this framework, the Cabinet member noted it has already reached S/5.4 billion (about US$1.43 billion), noting that its pace has not been affected by natural disasters.

After the Council of Ministers session, the high-ranking official emphasized that the Economy and Finance Ministry's task is to guarantee economic activity recovery, as well as provide resources to various government levels. 

"We have already verified the results of execution; it is going quite well, more than S/5.4 billion in public investment execution; it has not been affected by natural disasters," Contreras affirmed.

"Concerning the National Government, it is once again leading the execution (ranking); regional governments also continue to execute (public investment) at a good pace," he added.

However, the minister indicated that "the task with local governments is pending," saying that the Ministry always respects the duties of each independent body.

The minister also said that whenever emergencies occur, there is a special (budget) item to address such situations, but since not all local governments rely on budgeted resources for emergencies, they can use other items in case of natural disasters.

"That was what we announced; there was S/12 billion (about US$3.765 billion) that they can use, but since they are new authorities, we send support and training to show them how to use their budget," he indicated.

Moreover, the high-ranking official announced that State Ministers tomorrow might probably announce more measures to deal with the emergency.


Published: 3/22/2023
Most read