Rains in Peru: the Minister of Economy announced that 4,000 million dollars will be allocated to a reserve for contingencies

Rains in Peru: the Minister of Economy announced that 4,000 million dollars will be allocated to a reserve for contingencies

Economy Minister Alex Contreras has announced that $4,000 million will be allocated to a contingency reserve to deal with rains in the north of the country.

He Minister of Economy and Finance, Alex Contrerasannounced that it had been approved, subject to certain adjustments, a additional credit bill which amounts to an amount of 8.2 billion shillings and which will be decisive for the economic recovery of Peru; In addition, these resources will help Peruvian families and people affected by the current emergency context due to heavy rains.

“Of the 8.2 billion shillings, 2.5 billion shillings will go directly to the approval of a series of measures under the program ‘With Punche Peru’ and as part of the announcements that were made during the vote of confidence, there is another component of 2 billion shillings that will go to contingency reserve to continue implementing measures that help reactivation,” the minister said at a press conference after the Council of Ministers.

Compared to the current emergency context, with the possibility that the heavy rain have greater impact in the country’s regions, the government official pointed out that an additional $4 trillion will also be allocated to the rcontingency reserve to be able to deal with any eventuality very quickly. In this sense, these additional resources are in addition to the more than 3,400 million S/ which have been injected into the economy as a result of the program ‘With Punche Peru’.

“One of the central axes of government policy is the economic recoveryin this sense, with the measures ‘With Punche Peru’they already reflect important results in terms of execution of public investments which, to date, have increased by more than 30%, breaking the record of the beginning of the year for subnational governments”, declared the Head of the Ministry of Economy and Finance (MEF).

In this sense, Contreras said that this program will continue additional credit bill who hope that it can be followed urgently by the Congress of the Republic. “This will make it possible to continue to strengthen the three central axes of the reactivation policy, to continue to provide support to families in a context of high prices and to continue to bet on regional reactivation,” he added.

On the other hand, the head of the MEF specified that this credit bill additional incorporates more than a thousand investment projects, equivalent to S / 1,000 million that will be essential for the economic recovery of the regions. “We are talking about projects that add to the portfolio of projects already underway with the central characteristic that they will be executed quickly. This will be essential for the results of economic activity to continue to rebound,” he added.

Melissa Galbraith
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