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Peru: Cumulative public investment execution reaches over US$865 million in Feb 2021

21:40 | Lima, Mar. 1.

The execution of cumulative public investment (January and February) in the three levels of government —despite the COVID-19 context— continues to grow steadily, thus reaching S/3.159 billion (about US$865.2 million), the highest amount in the last 11 years, the Ministry of Economy and Finance (MEF) reported on Monday.

The ministry stated that —only in February— the execution amounted to S/2.147 billion (about US$588 million), which is consistent with the economic reactivation strategy promoted by the Government, in which public investment is one of the main engines of growth.

According to MEF, the cumulative execution as of February this year represented a 7% increase from the total modified institutional budget (PIM), up over the same period in 2020 (6.2%) and previous years (2016-2019), when the highest execution rate was 5%, which means that —despite the pandemic context— public entities as a whole are committed to the execution of investments.

This result in the execution was achieved —to a great extent— thanks to the fact that MEF promoted greater accompaniment, trainings, technical assistance, and intensive monitoring of the execution.

Thus, the execution is not interrupted by unforeseen situations, such as the extension of the state of emergency, the lockdown in some regions of the country and its effects on construction and related activities, as well as the application of monitoring and follow-up tools and apps, such as the registration of monitoring and execution formats within the framework of the 2022-2024 Multi-Annual Investment Program (PMI).

Segmented by levels of government

Public investment execution in February 2021, compared to the same period in 2020, achieved a combined growth of 18.7%. 

The execution of public investment at the national government and local government levels grew 38.8% and 9.8%, respectively.

Meanwhile, the execution of public investment execution by regional governments recorded a drop of 1.1%.

(END) NDP/VLA/RMB

Published: 3/1/2021
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