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Andean Group - January 2018 (ISSN 1741-4466)

Economic Highlights

PERU | Moving on reconstruction. In early January Peru’s agriculture minister José Hernández announced that so far his sector had invested PEN$800m (US$249m) in the Authority for Reconstruction with Changes (RCC). President Pedro Pablo Kuczynski set up the RCC last year to oversee reconstruction work in Peru’s regions affected by heavy rains and flooding resulting from the ‘El Niño’ climatic phenomenon at the beginning of 2017. Hernández said the money had gone on desilting and channeling the country’s main rivers, from “Zarumilla [Tumbes region] toward Ica”. He said this aimed to mitigate the impact of future rains in areas used for agriculture and livestock close to the rivers. Back in September, the central government announced it had approved its final plans to carry out the reconstruction and future prevention work. At the time then PCC chief executive Pablo de la Flor, (since replaced by Edgar Auberto Quispe Remón) highlighted that the government has increased the overall reconstruction budget by 10% to US$7.9bn, or 4% of Peru’s GDP, to help ensure the delivery of all planned projects. The reconstruction programme includes plans to build 50,000 new homes, and restore over 7,400km of local roads, 2,638km of highways, 129 bridges, 1,600 schools, and 154 healthcare centres.

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