on Thursday evening enacted the law authorizing the incorporation of a supplementary credit for the fiscal year 2024, up to the amount of S/3 billion (about US$796 million).
This regulation —approved by Congress' Permanent Commission on July 19— will allow for promoting economic reactivation through the unblocking of investment projects nationwide.
The initiative will benefit national government agencies, as well as regional and local governments by providing them with additional resources to advance social and infrastructure projects.
According to the
Economy-Finance Ministry,
out of the S/3 billion (about US$796 million), S/1.531 billion (about US$406 million) will be allocated to investment projects, S/753 million (about US$200) will be earmarked for closing gaps, S/600 million (about US$159 million) for unblocking public works related to the now-defunct Reconstruction Authority, and S/116 million (about US$31 million) for financing Health Ministry projects.
This supplementary credit will allow for financing various actions, such as funding 947 projects nationwide.
Additionally, S/987 million (about US$262 million) will be transferred to the Transportation-Communications Ministry to initiate 692 projects, mostly involving the construction of bridges nationwide.
These bridges will enhance the efficiency of transportation routes that are currently interrupted due to the poor condition of their infrastructure, which cannot currently withstand certain weights.
In many cases, traffic is routed through fords in rivers, which become unusable during rainy and flooding seasons.
Furthermore, S/159 million (about US$42 million) will be allocated for the construction of medical posts; S/113 million (about US$30 million) for the acquisition of ambulances; S/145 million (about US$38 million) for 65 sanitation projects; S/30 million (about US$8 million) for the maintenance of social staircases; S/114 million (about US$30 million) for 87 agricultural projects; and S/79 million (about US$21 million) will be directed towards 47 education sector projects.
Moreover, S/347 million (about US$92 million) will be allocated to the Ministry of Labor-Employment Promotion to finance over 1,000 immediate intervention activities of the Llamkasun Peru program and over 140 projects nationwide. The aim is to create over 68,000 temporary jobs nationwide.
Lastly, S/20 million (about US$5 million) will be allocated to strengthen public defense, aiming to ensure access to justice for individuals in poverty and vulnerability situations.