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Budget for 2018 Prioritizes Reconstruction

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Mercédez Aráoz, president of the Ministers Council states the budget for 2018 prioritizes reconstruction with specific changes in response to the effects of the coastal El Niño.

It is not a secret how much the coastal phenomenon El Niño affected Peruvian communities. These communities will be a priority of the 2018 budget with other priorities including infrastructure linked to the closing of social, productive and sporting gaps.

The budget for 2018 is S / 157,159,000, which is a growth of 10.3%.  This increase is one of the highest in recent years, of which S / 7,078,000 is destined for reconstruction in response to the effects of the coastal El Niño. The main sources of financing come mainly from tax collection. Aráoz noted that these resources will be invested in 13 regions across the country and will be executed by ministries, regional governments, and local governments.

It was pointed out as well that in 2018, about 26% of the budget will be aimed at continuing the reduction of public infrastructure gaps, which represents a 20.5% increase from 2017, the highest in recent years. These resources are mainly aimed at securing the commitments in Reconstruction, as well as in Water and Sanitation with 4,022,000 soles through the National Sanitation Program.

Aráoz highlighted that progress is being made in terms of decentralizing the budget. The investment budget for 2018 is more decentralized compared to 2017. In 2018, 29% of the budget is destined for Lima and Callao, 11 points below the 40% of 2017.

 

Do you think this is a good way to spend budget for 2018?

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(Cover Photo Flickr)

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Aris Sandrea

A native of Zulia, Venezuela. Aris joins linvinginperu after moving to Lima to work as a content creator. Bachelor’s degree in accountancy and 2 years of experience as a professional article writer and community manager. Watching movies and series, reading books and riding the bicycle is some of his preferred activities. Passionate about the idea of traveling the world to learn more about other cultures.

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