The head of the Ministry of Economy and Finance (MEF), Alex Contreras, recognized that Peru is going through a recession. This, after a drop of 0.63% was observed in August and accumulated a decline of 0.58% so far this year, according to official figures from the National Institute of Statistics and Informatics (INEI).
“At no time have we underestimated the situation, it was basically a very academic discussion that we recognized at the time as unnecessary, but the situation is completely difficult and we are going to continue moving forward. It is without a doubt a recession, I have no doubt and what we want is to get out of this recession with supplementary credit“Contreras Miranda said at a press conference.
According to the official, the Government is taking the necessary measures in the current economic context. Likewise, he indicated that the supplementary credit project requested by the Executive seeks to reactivate national production, as well as mitigate the increase in monetary poverty in the country.
“This supplementary credit also incorporates specific measures to combat anemia, social protection and that is why its importance. “It has a very important component of current spending, taking into account the executability that there are two months left and in that line I am waiting for it to be approved today so that this last effort of the year can be made to move the economy forward,” declared the Minister of Economy.
Source: Larepublica
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