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Financial News: PERU: Budget For 2018 Prioritizes Public Investment, Minis

PERU: Budget For 2018 Prioritizes Public Investment, Minister Says

09/05/2017 - 20:26:00 (RTTNews)

(RTTNews) - Peruvian Economy and Finance Minister Fernando Zavala said that the country's budget bill for 2018 seeks to prioritize public investment. On Thursday, Zavala is expected to present the bill before Peru's Congress.

"This budget is expansive. We want more public investment because we need it in a moment in which Peru stopped growing, or was not growing as much as we wanted," the minister told the RPP newspaper.

Also, Zavala indicated that in the first half of the year the country faced hurdles to execute public investment due to Brazil's Operation Car Wash unfoldings in Peru.

"We also had the coastal El Niño [climate phenomenon] that paralyzed the northern economy for three months," he said.

After the debate in Congress, the bill will be forwarded to the Budget Committee. A final opinion by the committee is expected before November 15. Then, the budget bill moves ahead to the Congress floor.

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