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MEF: Who is Kurt Burneo, the new Minister of the Economy portfolio?

MEF: Who is Kurt Burneo, the new Minister of the Economy portfolio?

Kurt Johnny Burneo Farfan takes over the portfolio Economy after being sworn in on the last Friday, August 5, in the plenary session of the Government Palace. In this way, Burneo becomes the third minister of this sector in Pedro Castillo’s mandate, since he was preceded by Pedro Francke and Oscar Graham.

There are several challenges that the new head of the MEF must take into account. Among them are the preparation of the Multiannual Macroeconomic Framework 2023-2025, with the new projections for the Peruvian economy, and the presentation of the Public Sector Budget Bill for Fiscal Year 2023.

We tell you in the following note who is the new representative of the Ministry of Economy and Financein addition to what his first statements were.

Who is Kurt Burneo, the new Finance Minister?

Kurt Johnny Burneo Farfán is an economist at the National University of San Marcos and is currently 61 years old. She also has a Ph.D. in Financial Services and Financial Management from the Ramon Llull University – Esade (Barcelona, ​​Catalonia).

He has previous experience in the public sector. During the Government of Alejandro Toledo Manrique he was designated as Deputy Minister of Finance of Peru (2001-2004). Later, he served as Minister of Production in the Government of Ollanta Humala, in this position he remained from July 21 to December 2011.

In addition, he is a research professor at Centrum PUCP Business School and has been a professor at several universities, such as the Pontifical Catholic University of Peru, the Cayetano Heredia Peruvian University, the San Martín de Porres University, and the Federico Villarreal National University.

In his profile of experience he also served as director of the Inter-American Development Bank in Washington DC United States and of Central Reserve Bank of Peru (BCRP). He was a consultant on economic and financial issues for the National Service of Natural Areas Protected by the State (Sernanp), the National Institute of Quality (Inacal) and Industrias Nettalco.

Similarly, he appears as the author of the following books with an economic approach: “Private pension system” (1994), “The challenge of privatization in Peru” (1993), “Public banking in Peru: effects on growth regional economy” (2009) and “Principles of economics” (2014).

What did Kurt Burneo say after taking office?

After assuming the portfolio of the MEF, Kurt Johnny Burneo Farfan had the following statements to the press on the measures that must be taken into account in the economic sector.

“The economy is slowing down, at that point I think we should have a conversation with the BCRP because what it is doing is raising the interest rate month after month, which is signifying the decrease in credit and, therefore, slows down the consumption and investment,” he pointed out in relation to the BCRP.

In addition, he indicated that although it is true that the entity seeks to lead inflation to return to the range between 3% and 1% in the second half of next year, it is necessary to generate harmony between monetary and fiscal policy.

“We need to sit down with the BCRP to harmonize the monetary policy of the entity with the fiscal policy of the Ministry of Economy and Finance (MEF)”, he said.

On the other hand, regarding the recovery of employment, that it is necessary to stimulate public investment, since the demand for employment depends on the need for production, he pointed out the following:

“With charge to review the numbers, because only on Monday I will sit in the ministry. If one identifies the problems so that public investment can pick up, which is not a matter of lack of resources, the issue is related to management. Both at the national government level and subnational governments”, he pointed out.

Finally, on how the “quality shock” in public management will be achieved if reality shows that there is volatility in the appointment of ministers and a worsening of the quality of management in most portfolios, he stated the following:

“What it is about is starting to correct, we will present the directions and the perspective of where the economy is going to make decisions. The goal is to regain confidence, especially in the private sector”, he specified.

Source: Larepublica

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