PM: Solutions towards economic growth to be promoted during Peru's Presidency at APEC

Photo: AFP

Photo: AFP

15:51 | Lima, Nov. 23.

Prime Minister Alberto Otarola on Thursday announced that, during Peru's Presidency of the Asia-Pacific Economic Cooperation (APEC) forum, the 21 economies that comprise it will be encouraged to work with the aim of identifying solutions leading to economic growth.


"During the exercise of the third Presidency of APEC, the 21 economies that comprise it will be encouraged to work together to identify optimal and innovative solutions that lead to economic growth, such as the liberalization and facilitation of trade, investments and digital economy, women's economic empowerment, food security, among others," he specified.


Similarly, the arrival of 2,500 foreign journalists to cover this summit will be registered.


Likewise, the Cabinet chief announced that APEC finances priority projects in the host country, adding that it will receive cooperation funds of up to US$4 million for 36 initiatives.

Furthermore, he announced that Binational Cabinets with Bolivia, Chile, and Ecuador are scheduled to be held in Peru next year, which have the purpose "of granting renewed dynamism to commercial, cultural, and scientific exchanges in favor of the population."

Budget

In terms of budget execution, Otarola affirmed that the Foreign Affairs Ministry had held outstanding positions over recent years, occupying the first place in the 2021 sectoral standings and ranking fourth in 2022, with an execution rate higher than 98%.

"For this year, the prospects are auspicious; to date, it (budget execution) stands at 80.1%, and we hope it will reach 99% by the end of 2023, surpassing the records of previous years," he explained.

Otarola also specified that this sector will receive an opening budget of S/1.122 billion (US$300 million) in 2024, of which 98% corresponds to the Foreign Affairs Ministry, whereas the remaining 1.25% will be allocated to the Peruvian International Cooperation Agency (APCI).

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Published: 11/23/2023