Making Peru's economy more productive and protecting human capital are the two main objectives of the Ministry of Economy and Finance (MEF) under the current administration,
"Making the economy more productive and, as a result, achieving greater economic growth, as well as protecting human capital, are my two main objectives," the government official told Exitosa radio.
The Cabinet member explained that it is not only about achieving greater economic growth and higher wages, but also about generating well-being among the population.
"That is fundamental for us, in addition to well-being and equal opportunities," Cuba noted.
He explained that his main ally in this administration will not only be major private investment projects, but also the Ministry of Development and Social Inclusion (Midis), "because we want to protect Peru's human capital."
"Peru's wealth, in addition to its natural resources, lies in Peruvians themselves, in its people," Cuba underscored.
"We are going to spend on people," he pointed out.
Investment expected in PSEZs
Regarding the Private Special Economic Zones (PSEZs), the minister said investors can now come and benefit from this law, which is already in force.
"The law is ready for any international investor willing to export from Peru to come here," Cuba stressed.
"We are waiting for private investors to come," he added.
Private sector
On the other hand, the government official said the private sector will play a greater role in the strategy to address the negative impacts caused by El Niño phenomenon through the creation of the Private El Niño Command.
"Work will be carried out to minimize river overflows. There will be overflows, but the idea is to keep them to a minimum. To this end, we have a Unified Command of the Peruvian State, which will help coordinate the interventions," Cuba explained.
The Cabinet member announced that the regulations to address El Niño impacts will be published today or tomorrow.
"The MEF is ready with the checkbook to sign it. On Tuesday, we will hold a public-private coordination meeting to successfully tackle the climate event," Cuba indicated.
"The priority is to save lives. People cannot die because of an El Niño phenomenon; they cannot lose their homes because of an El Niño phenomenon. Public works can be repaired," he emphasized.
Minimum wage increase
"In November, there would be a first increase of S/100 (about US$30); after El Niño phenomenon, approximately in April, a second increase of S/70 (about US$21). This has been arranged this way to minimize the impact on micro-enterprises," he indicated.
Infrastructure
On the other hand, regarding the educational infrastructure deficit, the minister said strong macroeconomic figures have not translated into good public infrastructure and services.
"At the center of it all, the State has failed after being hit by severe political crises," Cuba noted.
For example, the Executive Branch official commented on the changes in the Interior Ministry's leadership.
"Over the past 10 years, the Interior minister has changed every three months on average, making it difficult to tackle organized crime," he pointed out.
Regarding the request to Congress for legislative powers, he explained that the process is being handled by the Presidency of the Council of Ministers (PCM) and is well advanced.
"The exact date of the presentation will be announced in the coming days. We are within the established deadlines," he remarked.