Peru’s Prime Minister Pedro Cateriano said the 2016 budget bill has to maintain a right balance between income and expenditure, by preventing budgetary laws deprived of funds from being approved, because such a thing, he warned, results in inflation.
As soon as he arrived at the Congress to debate the budget bill for fiscal year 2016, Cateriano stressed the responsible economic management policy pursued by the government has resulted in the lowest inflation rates over the past five-year periods, even at the Latin American level, so he urged [attendees] not to revert to the past.
“We expect compliance with constitutional provisions, and to strike right balance between income and expenditure. We cannot revert to the past and pass budgetary laws deprived of funds, because this just leads to inflation,” he added.
The Cabinet Chief reaffirmed the government has not only supported the education sector in budgetary matters, but also in the preparation, qualification and income improvement of teachers, because they are part of the human capital resources for the country’s development.
According to official figures, one out three citizens had access to drinking water when Mr. Humala took office, but this figure has grown to the point that now two out of three have access to such resource to live a decent life.
He also suggested that domestic and foreign investment should be favored to increase economic resources, since the only way to move forwards, he said, is by creating wealth which is something the private sector should take care of.
Cateriano appeared at the Congress headquarters accompanied by Economy and Finance Minister Alonso Segura.
(END) MVF/FHG/RMB/MVB