Invest $ 35 billion will be allocated to major projects in next three years

Economy | Darcy Govea | December 1, 2008 at 11:19

There are a total investment of 35 billion dollars that go towards the development of large projects in our country over the next three years and foster economic dynamism, said today the Minister of Economy and Finance Luis Valdivieso.Refirió investment oriented to large private projects amounts to 17 billion dollars and is already running so it is unlikely to stop.

"There are also 18 billion additional dollars to be directed to new projects, being about to begin many of them," he said.

In the case of micro, said the International Finance Corporation World Bank (WB) has agreed to prepare a plan for loan guarantees covering up to 40 percent of long-term loans for sectors that will be reactivated, but the government is willing to increase this coverage to 50 percent with state resources.

On the other hand, said contingency lines from multilateral agencies, which can be accessed Peru to face the international crisis, added 3.940 million.

He explained that the World Bank have access to contingent claims that can reach two billion dollars, while the Inter-American Development Bank (IDB), the credit line amounting to 500 million.

He added that in the Latin American Reserve Fund (FLAR), we have access to resources to 800 million dollars, while the International Monetary Fund (IMF) credit line reaches $ 240 million, may be increased significantly.

He added that in the Corporacion Andina de Fomento (CAF) contingency line is 400 million.

We have a tiered plan with actions to be taken when necessary, but not this time, as our economy grows significantly at a rate of eight percent, in contrast to that of Chile which grows to three or four percent and inflation of nine percent and require actions already taken, he said.

On the other hand, the minister said he will continue to progress in reducing tax evasion and widening the tax base, in a context where there are many taxes that are not very efficient as the Financial Transactions Tax (ITF ) and the Tax on Net Assets.

"You should go to eliminating these taxes, but not at a time when revenues are needed, for it is irresponsible," he said.

Also noted that the General Sales Tax (IGV) has a higher efficiency, thus reducing the time they can expand the tax base.

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