MEF aims to eliminate obstacles and bottlenecks in mining and investment in infrastructure

The head of the Ministry of Economy and Finance (MEF), Alex Contreras, spoke before investors and legislators of the United Kingdom the “economic stability” of Peru, in the midst of the social and political crisis that the country has been going through, where he recognized that although it could generate an impact on the economy, a favorable environment for the business.

”The political cycle can have an impact on the economy (but) Peru continues to have a resilient economy and a favorable environment for business”, assured the official at an event in London organized by the Canning House forum.

Along these lines, the Minister of Economy highlighted Peru’s macroeconomic strengths and specified that public debt represents 33% of the Domestic Gross Product (GDP), being the lowest level in the region. “We have the necessary fiscal space to promote the recovery of our economy,” added Contreras, who also pointed out that investment will be made in infrastructure so that the country’s social gaps can be closed.

Private investment

The head of the MEF pointed out that the objective of his office is to eliminate obstacles and bottlenecks for the mining industry and investment in infrastructure. “The main engine to promote sustainable growth in Peru is private investment,” he said.

In particular, Lima aspires to develop an industry around lithium mining, he said. “Peru also has lithium, but we do not have an adequate regulation”, stressed the minister, who hopes to develop at least “basic” legislation for the sector.

He also highlighted plans to turn the country into a “naval connection center” in the Pacific and develop a naval services industry, as well as boost the sightseeingaffected both by the coronavirus pandemic and by the social problems that the country is going through.

With information from Efe