MEF: public investment execution broke record in first quarter

The Minister of Economy and Finance, Alex Contreraspointed out that S / 7,018 million in public investment were executed, 15.8% more than the average seen in the last five years and “well above” the level prior to the coronavirus.

“It is the first time that, with new authorities in the national, regional and local government, public investment is growing by 15.8%. It is doing so at high rates, and not only that, it is breaking records . That is something we want to maintain,” said Contreras Miranda.

The official acknowledged that, despite the complex panorama unleashed by natural disasters in some regions, they will take the necessary measures to prevent state spending from stagnating.

Only in March there is an increase of 55.0% in the execution of public investment in the national Government, while in the regional ones, the rise is 12.2%. However, in the premises there is a contraction of 27.4%.

Contreras argued that The important thing about a good execution is that the projects will be accelerated, which, in turn, will produce services and attract more resources to the regions.

Finally, he stressed that, in order to sustain the increase, it will be vital that the supplementary credit be approved, which is currently being debated in the Congressional Budget Committee.

“This supplementary credit proposal grants greater amounts of public investment to local governments that have greater poverty,” he said.