In the midst of the conflicts between the Executive and the Legislative, the head of the Ministry of Economy and Finance (MEF), Kurt Burneopresented the Impulso Perú plan, which contains 36 measures, of which 18 would have to go through Congress for approval.
During the presentation of the proposals, he reported that the cost will be S / 3,000 million and will include, among other things, actions such as subsidies for urban transport, the implementation of the food voucher, a temporary employment program for the hiring of young people and another of support to mypes. (See chart)
The initiative was presented to the Minister council last Wednesday, but the bills will only be presented before that same instance on September 14.
For the former head of Sunat, Luis Alberto Arias Minayathe initiative is only “a reiteration of measures, updates of regulations and extension of subsidies” that will have no impact on growth and even less on private investment.
“The minister has pointed out that politics and economics go on separate strings, but that is just wishful thinking. Political decisions influence the economic issue. In addition, the Government does not talk with businessmenpublic investment is deficient and there is corruption”, he highlighted.
The economist and also former director of the BCR considered that “there is no plan”, much less an impact on the Gross Domestic Product (GDP), which would grow between 2% and 3% this year.
Arias Minaya questioned that there is no articulated work in the Executive, that each portfolio does what it considers, and that to date Kurt Burneo has not ruled on the changes to labor outsourcing. “Each minister has his own plan,” he added.
DEPENDS ON THE EXECUTIVE
For its part, the former head of the MEF, David Tuestaconsidered that the main risk for economic development is the Government itself.
“We have a president and members of the cabinet who have a different vision of the economy, so the plan can be overwhelmed by them,” he explained, adding that a “measure 37” should have been considered, which is to “tame the president” so that he does not interfere, taking into account that many messages that come from the Executive tend to go against private investment and business confidence.
For Tuesta, also president of the Private Competitiveness Council, the presence of the president and his “spokespersons” would mean that the plan does not have an impact on GDP as the MEF expects (0.6 percentage points this year and 0.8 in 2023).
What he did highlight was that Burneo should aim for all measures related to the economy to go through his portfolio and not through another ministry, as Alejandro Salas tried when he said that they would implement a methodology to raise the minimum living wage each year.
Data
-The plan also includes extending the laws that return the IGV to mining and hydrocarbon exploration.
-Yesterday, the BCR raised the reference interest rate again (from 6.5% to 6.75%), used to curb inflation. Burneo has said that this has generated an economic slowdown.
