The proposal of Peru’s 2015 general budget worth PEN130.62 billion (US$ 46.15 billion), increases spending in key sector such as education, health, security, infrastructure and social inclusion, the Economy and Finance Minister, Luis Miguel Castilla, has said.
Addressing the media in a press conference, the minister highlighted that the reported amount for the proposed spending of the next fiscal year represents a healthy increase of 12 percent more than the 2014’s budget.
He went on to underline the Ollanta Humala administration’s major beat lies on funding strict measures to enhance the quality standards for the education sector.
“In pursuing this aim, the 2015 budget allocates for this sector an increase of PEN4.2 billion (US$ 1.47 billion) from last’s year spending,” Castilla said following presentation of the draft Public Sector Budget for Fiscal Year 2015.
The increase for this sector is proposed to go to the educational reform which requires an investment value at PEN1.35 billion (US$ 475.6 million) in order to fund more than 50,000 teaching vacancies across the grade span-elementary, middle, and high schools.
Likewise, the Finance minister said, the government plans to provide PEN3 billion (US$ 1.05 billion) to support the spending on social infrastructure nationwide, including the construction of 600 new education facilities.
Meanwhile, the Health sector received an increase of PEN2.64 billion (US$ 932.6 million) over last year's budget which is expected to be allocated for the improvement of quality services and ensuring universal coverage of public health.
Peru’s Social Inclusion sector is proposed to receive an increase of PEN1 billion, representing a 20 percent growth from 2014's budget.
An increase of PEN1.3 billion, meanwhile, will be allocated for the strengthening of citizen safety, public order, national defense and justice.
Finally, Castilla went on to underline that Public Investment has been allocated a budget of PEN36 billion as part of the Humala administration's efforts to close the nation's infrastructure gap.
(END) CCR/LOG
Published: 8/28/2014