Peru's public investment execution remained dynamic in February this year, totaling S/1.806 billion (around US$523.3 million), up 38.7% from the same month in 2019, which is the second biggest increase in this month, Economy and Finance Ministry (MEF) said on Monday.
"With this result, cumulative public investment between January and February 2020 remains the highest (S/2.835 billion or US$821.5 million), registers the highest growth rate in recorded history (53.8%) during the period under review, and reaches a new milestone in the goal of overcoming low execution inertia, which has characterized the first quarter every year," MEF explained.
Likewise, the February result was widespread at the institutional level, given that investment grew in the three levels of government —in line with allocative efficiency criteria— in terms of execution and focused on sectors with infrastructure gaps such as health, sanitation, and communication routes, among others.
Joint work
February's growth in public investment is the result of joint work and inter-institutional efforts carried out by the
Ministry of Economy and Finance (MEF) along with authorities from the three levels of government.
Furthermore, this expansion reflects the budgetary type and management measures timely implemented to promote the execution of projects that have a major impact on public welfare.
(END) MDV/MDV/RMB
Published: 3/2/2020