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Peru's President: Economic revival has been priority during first 100 days in office

16:07 | Ayacucho (Ayacucho region), Nov. 10.

The President of the Republic Pedro Castillo on Wednesday affirmed that progress in the vaccination against COVID-19 is enabling a rapid reactivation of the Peruvian economy.

Thousands of Peruvians lost their jobs and became poor because of the pandemic. Therefore, the Government's priority has been the reactivation of the economy during the first 100 days in office, the Head of State said.

"We have achieved great progress in the vaccination process, which is allowing a rapid economic reactivation in the homeland," he stressed.

The Ministry of Economy and Finance (MEF) projected that Peru's economy will grow 10.5% this year. However, the Central Reserve Bank (BCR) estimated that growth would be 11.9%, and many analysts think that it will exceed 12%, Mr. Castillo highlighted.

Between July and September 2021, 300,000 jobs were created, which means that thousands of fellow citizens have the possibility of bringing food home in a dignified manner, he mentioned.

Furthermore, the Head of State indicated that the Government transferred resources worth more than S/14 billion (over US$3.484 billion) to maintain basic services operative at the various government levels and to ensure the vaccination process during the first 100 days in office.

Of this amount, more than S/2 billion (about US$498 million) was allocated for the vaccination of Peruvians, he indicated.

"In total S/1.864 billion (about US$464 million) was allocated for the purchase of vaccines from laboratories and S/166 million (about US$41 million) was transferred to regional governments for the payment of vaccination personnel," he indicated.

The top official also said that around S/200 million (about US$50 million) was allocated to the Energy Social Inclusion Fund (FISE) to stabilize the price of LPG and achieve a reduction in the price of gas for households.

Delegation of powers

Moreover, the President reported that the Executive Branch requested Congress the delegation of powers for tax reform, thereby seeking to generate new resources worth around S/12 billion (about US$2.987 billion) and ensuring that such collection comes from people and companies that have the most, without affecting the middle class or entrepreneurs.

The resources to be obtained will be used exclusively to finance a fairer health system and a quality educational service for all Peruvians, he said.

Remarks were made during an event held at the Main Square of the city of Ayacucho, in which the Head of State presented a report on the first 100 days of Government.

(END) MMG/JJN/RMB/MVB

Published: 11/10/2021
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