Andina

Peru's Fin Ministry: Supplementary Credit approval will enable economic recovery

Photo: ANDINA/Ministry of Economy and Finance

Photo: ANDINA/Ministry of Economy and Finance

16:16 | Lima, Apr. 15.

The Ministry of Economy and Finance (MEF) highlighted the approval of the bill 04482/2022-PE, which approved a supplementary credit of S/8.232 billion (about US$2.178 billion).

The government agency stated that these resources will promote the recovery of the Peruvian economy and the response to the emergency caused by heavy rains.

On Thursday, Economy and Finance, Minister Alex Contreras said that, on the one hand, the supplementary credit will make it possible to continue financing the economic recovery through the execution of the Con Punche Peru plan.

On the other hand, it will inject resources into the Contingency Reserve with the aim of having them available to deal with the emergency.

"Measures for a total of S/3.458 billion (about US$915 million) are being executed as part of the Con Punche Peru plan. However, there are still S/4.381 billion (about US$1.159 billion) waiting to be executed, because, in total, the recovery will cost S/7.800 billion (about US$2.064 billion)," he explained.

The government official recalled that the Con Punche Peru plan is built on three central pillars: supporting family economies, reactivating regions, and reactivating the most affected sectors.

"The S/3.458 billion (about US$915 million) that have been approved are part of these pillars, but S/2.013 billion (about US$532 million) still need to be approved to support family economies, as well as S/2.144 billion (about US$567 million) to reactivate regions, and S/225 million (about US$59.5 million) to reactivate the most affected sectors," he explained.

(END) GPR/RMB

Published: 4/15/2023