Andina

Reactiva Peru Program spending equal to 8% GDP, one of most ambitious in the region

11:48 | Lima, Jul. 2.

Economy and Finance Minister Maria Antonieta Alva on Thursday affirmed that the Reactiva Peru Program spending is equivalent to 8% of GDP, thus making it one of the most ambitious initiatives to relieve companies in the region.

"We have implemented the Reactiva Peru Program for companies, whose spending is equal to 8% of GDP (S/60 billion or US$16.9 billion in two stages)," she said in remarks to RPP radio and TV station.

"I think that the Reactiva Peru Program is one of the most ambitious initiatives in the region, it has yielded excellent results, providing working capital to entrepreneurs and the relief that is needed, hand in hand with other measures that we have launched, such as the extension for making tax payments," she added.

The Government official noted that it is important to consider that a crisis requires decisions to serve the common interest, hence the need to pay attention to different points of view.

"Programs such as Reactiva Peru have been repeatedly questioned, but it has achieved the aim to avoid breaking the payment chain and slowing down credit to companies," she remarked.

Reactiva Peru will enable the economic system to remain operational by preventing the payment chain from breaking, in the face of the global coronavirus (COVID-19) pandemic.

(END) CNA/JJN/RMB/MVB

Published: 7/1/2020
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