Peru's public investment execution has picked up nationwide, increasing 2.8% in June 2017, the Economy and Finance Ministry (MEF) revealed.
"Public investment is speeding up. It grew 2.8% [in June 2017] over June 2016. This progress marks the beginning of better public resource execution levels nationwide," MEF said in a video statement shared on Twitter.
Public investment execution reached S/1.987 billion (about US$609.88 million) in the sixth month of the year, a noteworthy result following two straight months of falls.
In addition, June's result marked a recovery over the same month in 2016 (S/1.936 billion or about US$594.23 million).
Local and regional governments
On the other hand, MEF underlined public investment execution at local-government level, which was the most dynamic in the analyzed month at S/868.566 million (about US$266.596 million).
It was followed by the national and regional governments' execution, which stood at S/720.599 million (about US$221.18 million) and S/398.123 million (about US$122.2 million), respectively.
First half 2017
Public investment totaled S/9.698 billion (about US$2.977 billion) in the first semester of 2017, a 4.7% decrease in nominal terms compared to the same period in 2016 (S/10.173 billion or about US$3.122 billion).
Despite a two-year downturn, the Economy-Finance Ministry and the Central Reserve Bank (BCR) have forecast 15% and 7% public investment rebounds, respectively.
Public investment last expanded to S/31.608 billion (or about US$9.7 billion) in 2014, before dropping to S/30.609 billion (about US$9.395 billion) in 2015 and then to S/27.21 billion (about US$8.35 billion) in 2016.
(END) CNA/DHT/MVB