Peru's Prime Minister Fernando Zavala presented Plan 150,000 containing six measures to achieve growth of over 4%, including a social housing boom and the mining-oriented Social Pre-Payment Fund.
"Plan 150,000's main goal is to post a GDP growth rate of more than 4% and increase public investment by 15% from last year," he said.
Zavala explained the plan comprises six key pillars involving various sectors:
- First, a S/5.5 billion (about US$1.66 billion) injection for construction and infrastructure maintenance.
- Second, speeding up of Works for Taxes to attract investments worth S/1.5 billion (about US$455 million) over the next 12 months.
- Third, a social boom to build 150,000 new houses in the following five years, with 15,000 homes additional to the number stated in the annual budget.
- Fourth, ease to access micro and small-sized enterprises (MSEs) loans, with S/1.1 billion (about US$334 million) available.
- Fifth, a new platform to foster formal employment in Peru, with which Essalud’s insurance contribution for young people will be paid.
- Sixth, a new stimulus to mining —major source of growth in Peru— with future projects estimated at US$19 billion; and to that end the implementation of the Social Pre-Payment Fund.
(END) CNA/RMB/MVB
Published: 3/9/2017