MEF: local and regional governments have S/4,000 million to promote investment projects

The Minister of Economy and Finance, Alex ContrerasHe reported that Peru has around S/4,000 million in unbudgeted balances that could be used to carry out investment projects this year.

The head of the Ministry of Economy and Finance (MEF) explained that the local and regional governments They have S/3,000 million and S/1,000 million, respectively, which are balances from last year that have not yet been incorporated into their budgets and that could make the execution of more investment projects to serve as a positive shock to improve short-term expectations and boost private investment.

“We are going to have a proactive role. The goal is that by articulating national government, regional government and local governments we can generate a positive expectation shock. There is investment that at this moment is contained and that requires a joint effort to continue unblocking, ”said the Minister of Economy during his participation in the II Regional State Council organized by the Government.

The resources will allow the country to advance in closing gaps in basic access to water, health, and electricity, in order to reduce the anemia that affects all regions.

Boost to private investment

In this sense, Contreras highlighted that this year the Government has awarded investment projects to the private sector for more than US$1.2 billion and that next Friday, August 25 new projects will be awarded for US$180 million and another US$800 million in September. “We are going to break the record for awarding PPP projects and active projects. We hope to exceed the figure of US$3,000 million. This is pure and hard investment that will reactivate the regions of the country ”, he highlighted.

In addition, he maintained that projects will continue to be unlocked. “A favorable solution could be reached in the case of Chavimochic, we want to do the same in the case of Majes,” he explained. Immediately, he noted that there will be a high-level commission to which the big decisions on some emblematic projects will be raised, so that the advance of private investment can be accelerated.

“There is already the regulation of that commission that will allow decisions that sometimes cannot be made between the lines, to be taken at the highest level, and in this way private investment can continue to be promoted,” he said.

The head of the MEF recalled that to support this effort, The Government will make disbursements of S/6,700 million until the end of the year: S/3,500 million for the second part of the Con Punche Peru program and S/3,200 million to attend to the emergency due to climatic phenomena and prevention of El Niño. “We are going to continue supporting local and regional governments to increase the execution of resources,” he specified.

Contreras indicated that with the same objective of promoting the recovery of the economy, the Impulso MyPerú program has been expanded to S/4,000 million and that he expects a supplementary credit of S/3,000 million to be approved in the next two weeks for the execution of works of Health, Citizen Security and a better provision of public services.