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Peru's four axes to boost GDP

LIMA, PERÚ-AGOSTO  23.Presidente del Consejo de Ministros y titular de Economía y Finanzas, Fernando Zavala, en sesión ordinaria de la Comisión de Economía del congreso. Foto:ANDINA/ Dante Zegarra

LIMA, PERÚ-AGOSTO 23.Presidente del Consejo de Ministros y titular de Economía y Finanzas, Fernando Zavala, en sesión ordinaria de la Comisión de Economía del congreso. Foto:ANDINA/ Dante Zegarra

14:56 | Lima, Aug. 24.

The Peruvian Government currently works on four main axes to enhance competitiveness and productivity, as well as to boost national economy in the medium term, Prime Minister Fernando Zavala affirmed Thursday.

The four axes —which aim to contribute to the country's development— are Administrative Simplification, Bicentennial Infrastructure Plan, Strengthening of Labor Competitiveness, and Sectoral Development. 

Said sections are part of the Government's mid-term plan to allow an expansion of at least 4% in 2018 and 6% in the next five-year period.

Administrative Simplification

Regarding the first section, Peru's Government projects to simplify 2,000 administrative procedures this year and an additional 2,000 in 2018.

The measure will contribute to the country's development in the medium term and have a positive impact on real-estate, industrial, mining and hydrocarbon sectors, Zavala affirmed. 

Infrastructure Plan

As part of the Bicentennial Infrastructure Plan, public investments —worth US$60 billion— will consolidate via Public-Private Partnerships (PPP), public works and Works for Taxes (roads, ports and airports, among others).

Within this framework, real-estate, industry, retail, education and tourism sectors will see positive results.

Labor Competitiveness

Another main section is the improvement of regulations and the strengthening of labor competitiveness.

The main objectives are to promote formal employment, as well as to balance labor supply and demand. 

"This axis will have an impact on the industrial, mining and hydrocarbon, education and tourism sectors," Zavala added.

Sectoral Development

The last section to increase competitiveness is sectoral development, which aims at promoting exports and overhauling financial regulations.

In this sense, Peru's Government strives to promote tourism and enact better foreign trade regulations. 

The last axis will positively impact on mining, hydrocarbon, education and tourism industries, as well as the financial system.

(END) MMG/JJN/JAA/MVB


Published: 8/24/2017
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