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Economy | 26 February, 2007 [ 10:04 ]

Free trade agreement between US & Peru will raise Peruvian salaries


00Peru's Jorge Del Castillo
Del Castillo: "We will be able to rapidly increase salaries, and improve public services and pensions."
 
© LIP
(LIP-jl) -- Peruvian Prime Minister Jorge Del Castillo informed that if the free trade agreement between Peru and the United States is approved in April, as most believe it will, the first effects of the deal will bear fruit at the beginning of next year.

According to Del Castillo, those benefits will come in the form of increased salaries and pensions.

"Peru is solidifying its growth as well as improving its political relationships with our allies and the international community. I hope the free trade agreement will begin this April, and because of the increased level of investments that we expect to receive next year, we will be able to rapidly increase salaries, and improve public services and pensions," commented Peru's Prime Minister.

Del Castillo also indicated that the level of public investments made in Peru has gone up by 1-2%. He confidently expressed that the rate will likely increase to nearly 5% at the end of Alan Garcia's presidential term.

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