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Peru to continue promoting large private investment projects

Photo: ANDINA/Renato Pajuelo

13:35 | Lima, Dec. 3.

Peruvian Prime Minister Violeta Bermudez on Thursday affirmed that the Executive Branch will continue boosting large private investment projects, such as the expansion of Lima's Jorge Chavez International Airport.

"The Private Investment Promotion Agency (ProInversion) relies on a portfolio of important projects ready to be awarded and others with advances in their formulation and design. To strengthen the connectivity and integration of the country, we will continue promoting large private investment projects linked to the transport and communications sector," she expressed.

Within this framework, the high-ranking official indicated that —among these projects— Jorge Chavez International Airport expansion stands out. The completion of the air terminal's control tower is expected by July 2021.

"Private investment will be a fundamental engine for economic reactivation. To meet this objective, we will continue boosting investments, always in balance with environment protection, as well as with respect for ancestral peoples and indigenous communities," she said.

Fiscal sustainability

Likewise, the Cabinet chief projected that the COVID-19 crisis will have a significant fiscal impact to be reflected in atypical levels of fiscal deficit and public debt.

"The transition and emergency government is committed to ensuring the sustainability of public finances and outlining the path towards fiscal recovery (…) we will maintain fiscal balance and prudence in public spending," she assured lawmakers.

The high-ranking official stressed that —despite the deterioration of fiscal accounts— the responsibility of an economic policy in the last 30 years has allowed

the confidence in Peru of markets and investors to remain intact.

"As proof of this, last week —despite the recent political context— our country carried out the most successful bond issuance in our history, placing bonds at reasonable interest rates and long terms, including for the first time a 100-year bond, and its credit rating was confirmed," Bermudez said.

"With this, Peru remains the only country in the region which —shortly after emerging from a political crisis— still maintains its credit rating on foreign currency with a stable outlook," she added.

In accordance with article 130 of the Constitution, the Prime Minister must appear before the Congress within 30 days after his/her designation to request a vote of confidence.

Prior to her presentation, the Prime Minister held meetings with various Congress members, which she deemed as positive.

As is known, Bermudez was sworn in as Prime Minister by President Francisco Sagasti on November 18.

(END) CNA/JJN/MVB

Published: 12/3/2020

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Peru to continue promoting large private investment projects

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