MEF: S/2,150 million lost since the start of the protests

After almost two months of protests, Peru has lost S/2,150 million, according to the head of the Ministry of Economy and Finance (MEF), Alex Contreras. The damage has deepened in southern regions such as Madre de Dios, Cusco and Puno, where more than five highways were blocked, which reduces the supply of markets and fuel, a situation that complicates the most vulnerable mypes and families.

“To date, these regions have executed almost zero soles in terms of public investment (…) There may be medium and long-term effects, especially in Cusco, where economic activity depends a lot on tourism, which is, of by far, the hardest hit activity,” added the official during the balance of Con Punche Peru.

In addition, Huánuco, Ucayali, Ica, Apurímac, Arequipa, Moquegua and Tacna have “moderate losses”, when clogging between one and four roads. In the rest —predominantly the north and center, from Ayacucho— no section is closed. By way of reflection, The minister assured that although the conflict is generating important economic “impacts”, the final balance is positive because macro strength and resilience is maintained.

trust intact

Despite the conflict between citizens and security forces of the government of Dina Boluarte, foreign investors do not plan to leave the country or lose interest in the opportunities that we can offer them.

“I have not said that the Business they are going to leave Peru, on the contrary, despite what is happening, there is still a lot of confidence in the fundamentals of the Peruvian economy,” Contreras said at a press conference.

Therefore, the projection of growth between 3.1% and 3.9% for this year remains firm, even his management will do everything possible to raise it to a rate of 4%.

And, although facing the first quarter they expect the GDP to reach 2% if the conflict continues or that it could exceed 3%, if the mobilizations end, Alex Contreras continues to stress that “the first three months reflect a recovery in economic activity”.

Another key factor to highlight —according to the MEF— It is the solidity of the Peruvian sol in the face of external shocks, to the point that our currency continues to be the most stable in the region and the Country Risk reached 207 points, well below neighboring nations such as Colombia (358), Mexico (354) and Brazil (250).

What does the Executive plan?

So far, more than 50% of Con Punche Peru’s projects have been approved, the Boluarte regime’s commitment to energize the country, prioritizing mypes and the family economy —such as facilitating credit payments up to monetary transfers—.

Now, according to Contreras, it will go to Congress another bill that congregates a dozen approaches to revive the regional and sectoral economy from a supplementary credit.

These include financing for the rapid execution of investments, as well as to determine the status of paralyzed public works and increase the budget capacity in Public-Private Partnerships, and even the unlocking of mining projects.

“Tourism is in recession”

Contreras Miranda alleged that the sector sightseeing It has fallen into recession as a result of the blockades in 10 regions of the country (74 roads blocked in total), which affect the low activity of businesses such as accommodation, restaurants and handicrafts. For example, in Cusco it was decided to close the Inca Trails and visits to Machu Picchu.

Within the plan to contain the construction of tourism, there is a line of credit of S/2,000 million for the mypes of the sector, of which 200 million are allocated in credits with the space to “double it if the demand is strong”.

The data

Critical. In Madre de Dios it was reported that the taps no longer had a stock of fuel. The gas ball shot up to S/300. The Osinergmin, warned that Ica would run out of fuel in the next few hours.