On July 28, President Pedro Castillo announced some new measures in his message to the nationincluding the provision of subsidies. But how much will these promises cost?
According to Lisette Crispin, head of data at the 50+1 Policy Analysis Group, the measures proposed by the head of state in his message to the nation would cost at least S$11 billion.
The 50+1 Group score is based on 14 Presidential pledges, including food bonus; regional projects; southern volcanic observatory; biobusinesses on the Amazon; artisanal fishing in San Juan de Marcona; attention to mips; housing bonds; hospital of San Juan de Lurigancho; resources for free admission to public universities and institutes; investment in educational institutions; Bicentennial State Investment Project; restoration of cultural industries; The Santa Rosa-Callao Bridge and Boca del Río-Tacna are in operation.
However, the Lima Chamber of Commerce (CCL) has calculated that the amount will be much higher.
“President Castillo has dedicated himself to launching promises which would mean spending SGD 60 billion, which is 10% of GDP and 30% of our country’s total exports this year. Where will this money come from? It was a speech that did not inspire confidence. He also did not propose measures to promote economic growth and job creation,” said CCL President Rosa Bueno.
A forecast of the resources that would be required to implement the executive’s proposals was obtained taking into account the various amounts announced in Castillo’s announcement.
Bueno criticized that the message of the head of state distorted the numbers Central Reserve Bank (BCR) “draw a parallel reality completely alien to what currently lives in every city in Peru.”
Another criticism of the executive branch by the 50+1 Policy Review Group is that the current level of budget execution is low.
The group’s consultant and public administration specialist Martin Cabrera pointed out that while the President’s promises may suggest a “tumbler turn” towards technical ones, little progress has been made. budget that the present complicates the fact that at least part of the declared can be carried out.
Until July of this year, the government has implemented only 44% of the 44 billion Singapore dollars allocated for activities and projects in the field of education; Women and vulnerable groups; Transport and communications; Health; Energy and mines; Ambient; Production and culture.
“We are concerned that there is a huge deterioration in the level of performance government spending in key service coverage sectors such as education, health, transport. In education, the president is offering SGD 5,000,000,000. But what is happening with this sector is that it is currently in second last place in terms of spending, only above the environment, foreign trade and tourism,” he told the Gestión newspaper.
It should be noted that the national government alone, with a budget of S$133,104.4 million, has used 47.8% of its resources, according to Ministry of Economy Transparency data.
Source: RPP
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