Peru's President: Public investment hits record high under current Government

Photo: ANDINA/Presidency of the Republic.

Photo: ANDINA/Presidency of the Republic.

18:27 | Lima, Jul. 20.

The President of the Republic Francisco Sagasti on Tuesday highlighted the record increase in public investment during his administration.

"Public investment increased to record levels, and this has been observed in all sectors," the Head of State said in an interview with Andina news agency.

"The Government has never invested that much in the public sector over the past 20 years," President Sagasti remarked.

Thus, during the first months of the year, this work has paid off in the fields of transport and communications, housing, production, agriculture, exports, as well as energy and mines.

However, the statesman pointed out that economic growth is not comparable with the employment generation figures. Hence the need to implement programs such as Trabaja Peru (Work, Peru) and increase credit lines for MSEs, as well as tourism and agriculture sectors.

Even though the context of international commodity prices favors Peru, the top official said, that is not the case with fuels and food.

"We have no control over the prices of the products we import, which are getting more expensive abroad," Mr. Sagasti expressed, citing cooking oil, petroleum, and grains used to feed birds such as chickens.

"We do everything possible —within the legal framework— to cushion and mitigate these processes," he affirmed, noting that the price of diesel fuel is already within the compensation range set by the Ministry of Economy and Finance (MEF).

According to the Peruvian leader, this scenario shows that economic recovery is taking place in the country, but with shadows, which will require appropriate measures by the next government.

"We have to be optimistic, but not naive," he added.


Published: 7/20/2021
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