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Peru readies package to reactivate economy

Staff writer |
The Peruvian government is preparing a package of incentives to reactivate the national economy, Economy and Finance Minister Luis Miguel Castilla said.

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According to Mr. Castilla, the measures, which must be approved by congress, include cutting bureaucratic procedures and taxes in various sectors, among others. "Next week we will probably be approving... maybe the most important economic incentive package of this administration," he said, adding the measures will first be debated Wednesday by the council of ministers.

The government also plans to launch mining, energy and infrastructure megaprojects around the country to help reactivate the economy,said Mr. Castilla.

Economic growth, Mr. Castilla said, should improve in the second half of the year and in 2015, thanks to such megaprojects as the continued construction of the Lima Metro system, with an investment of $5.56 billion, and the construction of the Southern Peruvian Gas Pipeline, with an investment of $4 billion.

The government's announcement was welcomed by the country's business sector, Peru's Andina news agency said.

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