The Lima Chamber of Commerce (CCL) warns of the enormous cost that it represents for Peruvians Petroperu, This includes the recent issuance of Emergency Decree No. 013-2024, which establishes extraordinary and urgent economic and financial measures to overcome the financial situation of the state-owned company.
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Through the aforementioned Emergency Decree, the Executive assumes Petroperú’s debt of US$750 million and extends until 2025 the guarantee for the foreign trade credit line with the Banco de la Nación for US$1 billion.
The business association says the amount of money owed by the state-owned company is equivalent to 1.6% of GDP, 7% of the 2025 public budget and 26.4% of the 2025 public investment budget.
“The Government, through the Ministry of Economy and Finance (MEF), has already assumed a debt of US$4,766 million from Petroperú. Instead of using that money to reactivate the economy, it was used to try to refloat the oil company,” said the first vice president of the CCL, Hernán Lanzara Lostaunau, after highlighting that with that amount, 1,163 schools and 36 hospitals could be built for the benefit of the country.
“Build hospitals and schools or take on Petroperú’s debt? The MEF has already made a decision,” said Lanzara Lostaunau, adding that the outcome of the new administration will depend on the technical capabilities of the next board.
“A process of restructuring, optimization and austerity has been announced with a specialized firm. From the Lima Chamber of Commerce we will be monitoring the actions of the new administration and the results they obtain, which must be what the country and Peruvians need,” he said.
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