The head of the Ministry of Economy and Finance (MEF), Alex Contreras, pointed out that from his office there is some concern about the impact that the Coastal El Niño (FEN) phenomenon could leave. The probabilities that this event is of a strong magnitude have been increasing in recent months.
according to National Study of the El Niño Phenomenon (ENFEN), as of May 31, there was a 7% chance that the coastal FEN would become strong by summer 2024; however, now the chances have risen to 13%, according to the latest estimate as of August 11.
“The main risk that we are going to face in the following months has to do with the arrival of the El Niño phenomenon. There is a significant probability that El Niño will be weak or moderate; however, something that has caused us concern in the Ministry of Economy is that the probability of having a strong coastal El Niño for the summer of 2024 has been revised upwards,” said Minister Alex Contreras, during the issuance of his Economic Outlook.
Probability of a strong FEN in Peru. Photo: Capture MEF.
In this sense, the Minister of Economy recalled that the Government continues to finance spending on prevention in response to the climate emergency. In addition, within the supplementary credit bill for S/3,000 million that will be sent to the Congress of the Republic, resources are included to finance measures in response to the effects of the El Niño phenomenon.
“What the evidence says is that each El Niño Phenomenon is different, but its effects also depend on how we act and we are acting with caution, but it also implies everyone’s work,” said the official.
Source: Larepublica
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