said the Government would provide support grants to families affected by El Niño phenomenon, as well as payment facilities for companies to help them obtain economic and financial relief.
"For companies, it would be declaring some sectors under a state of emergency so that they can have longer terms and more suitable banking treatment, without the need to penalize this type of credit or make it more expensive, as well as guarantee programs," Cuba stated.
"And for families, obviously, thinking of a type of direct assistance, such as a grant, as was done during the pandemic," he added in remarks to RPP.
The Cabinet member explained that the Peruvian State's intervention would involve providing economic subsidies to households affected in the northern and southern parts of the country.
The payment facilities for companies would not be like the Reactiva program implemented during the pandemic through state-guaranteed loans and with the participation of the Central Reserve Bank (BCR).
"It will not be in such a massive way as Reactiva was, which was something exceptional. Reactiva is for companies, grants are for families, and I am thinking about the latter now, about grants that would go directly to the affected families," Cuba said.
"We are doing the calculations and getting ready in case the event occurs," he added.
The minister mentioned that growth estimates for Peru exceed 3% this year, despite the effects of El Niño phenomenon already affecting sectors such as fishing and textiles.
Localized recession scenarios are also expected to emerge in some Peruvian regions.
"In that case, they will have a geographically localized recession. There may be provinces in recession, which will blend in if we do not take this into account, and for this purpose we are preparing effective action," he indicated.
(END) CNA/MVB