Peruvian Prime Minister Pedro Cateriano said Peru’s public budget bill for fiscal year 2016 is aimed at further strengthening reforms implemented by the government to support social investment through education, health and inclusion.
“According to the main economic and social policy guidelines, it [the budget] is strategically oriented primarily towards further strengthening reforms on social investment through education, health and social inclusion,” he detailed.
Speaking before the Congress this morning, Cateriano reaffirmed the budget will be spent on public safety, public infrastructure and emergency situations as well.
He emphasized that economic growth is expected to translate into development and that greater, improved services are due to be delivered within an equal opportunities framework and meeting the most urgent needs of sectors in the country.
Underpinning growth
The 2016 budget bill, that amounts to S/.138.4 billion (about US$41.34 billion), was established under the economic and social policy guidelines set by the Executive Branch, Cateriano insisted.
Such guidelines seek to underpin the economy’s potential growth in the medium term and, to do so, a substantial improvement has to be reached in human capital and labor market and more formal jobs need to be created to attract skilled labor.
They are also aimed at narrowing infrastructure and social services gaps through public-private partnerships and administrative simplification to promote business creation and development.
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Published: 11/26/2015