Peru's Finance and Economy Minister Alfredo Thorne on Saturday said the country's economic situation will improve over the next months under government-driven Reconstruction with Changes.
"We pursue compensation, via public investment, due to the slowing down we are experiencing," the government official pointed out.
"We hope the country will expand [between] 3% and 4% during the second half of the year," Thorne said on
"Conversando con el Presidente" (A Conversation with the President), a TV show hosted by Head of State Pedro Pablo Kuczynski.
"We are set to begin in the second half of the year, with a deficit of 3%; the next year deficit would be 3.5%, 2.9% and 2.1%," he said.
He stressed the need to "stimulate private activity, consumption spending, and private investment spending," given that "the economy is fueled by private sector" through financing of infrastructure projects across the territory.
"MEF [Economy and Finance Ministry] has outlined 12 projects worth US$18 billion including
Quellaveco. This is important to boost private investment so as to achieve sustained growth," he underlined.
Formality
According to MEF head, formality has an influence on economic dynamism. "A worker who moves from informal to formal employment, improves his/her productivity threefold."
The improvement in education quality and infrastructure is another key aspect of the country's economic growth. To that end, the Education sector's budget —currently at 20% of total government budget— is being gradually increased.
Asked on the actions required to stimulate the Amazon, economically speaking, he said connectivity should be undertaken building roads and implementing electric power sources, since Loreto has no access to electricity despite being an oil producer.
(END) RGP/RGP/RMB
Published: 5/27/2017