Peru's government is readying a massive economic stimulus package worth around 12% of gross domestic product to help mitigate the impact of a global coronavirus pandemic, the copper-rich country's economy minister said late on Sunday.
FILE PHOTO: Municipal workers clean the streets and the facades in the Chorrillos neighborhood as Peru's government considers extending the days of the state of emergency and curfew to stop the spread of the coronavirus disease , in Lima, Peru March 21, 2020. Picture taken March 21, 2020. REUTERS/Sebastian Castaneda
LIMA - Peru’s government is readying a massive economic stimulus package worth around 12% of gross domestic product to help mitigate the impact of a global coronavirus pandemic, the copper-rich country’s economy minister said late on Sunday. The South American nation is planning to spend 90 billion soles to support citizens and the key mining sector, Economy Minister Maria Antonieta Alva said in a televised interview on Sunday.
The package will have three phases of 30 billion soles each; containing the disease, ensuring companies’ payment chains by granting credit guarantees, and reactivating production. “We are preparing to invest at least 12 GDP points for this; it is an unprecedented measure,” Alva said in an interview with local channel América Televisión.
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