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Peru’s govt’ aims to reduce infrastructure gap by $30 billion by 2016

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by Diego M. Ortiz

Humala administration is “on the right track.”

Peru’s government will attempt to close the country’s infrastructure investment deficit by $30 billion within the next three years. If successful, it will erase about 75 percent of the more than $40 billion gap, Peru’s Construction Chamber says.

The head of the Construction Chamber, Lelio Balarezo, told El Peruano that Ollanata Humala’s administration “has been applying and preparing the right measures to achieve this target,” but he made it clear that there are still some investment processes which are underway and other major projects in the “pipeline” that amount to an additional $5 billion.

“Peru is a country that grows steadily, develops and makes it because the vegetative growth of the people is continuous,” he told El Peruano. “If we want to achieve levels of developed countries, then the demand for greater infrastructure will continue to grow. It is only natural.”

According to Balazero, the current administration is “on the right track” and there is particular optimism with the enactment of a reform measure package aimed at further encouraging private and public investment on a national scale.

In addition, he emphasized the growth of public investment.

“Local Governments understand that the best way to create development of their people is the investment in infrastructure and have been doing this with unusual speed. Currently, the State’s investment in this field includes about 1.5 % of the gross domestic product (GDP) and is on the rise’, he said.

Even though the infrastructure gap is very wide, Balazero believes the country should be aware that his sector (construction) is growing at a high rate of about 15 percent.

If the growth continues, he told the Andina news agency, the sector is expected to register growth rates of 20 percent by the end of 2013.

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Taken from Peru This Week: http://www.peruthisweek.com/news-perus-govt-aims-to-reduce-infrastructure-gap-by-30-billion-by-2016-100441

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This entry was posted on July 23, 2013 by in News Articles and tagged , , , , , , , .
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