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Andean Group - August 2020

Economic Highlights

PERU | Emergency spending. On 28 July, Peru’s President Martín Vizcarra announced that 8.5m vulnerable households will receive a second emergency subsidy worth PEN760 (US$216) to support the country’s economic reactivation, matching the payment announced in March at the start of the coronavirus (Covid-19) pandemic. This new subsidy, unveiled by Vizcarra in his annual address to the nation to mark Peru’s independence day, will cost the government an additional PEN6.4bn (US$1.82bn). The president also announced that the country’s health sector budget will be increased by an additional PEN2bn in 2021, to reach a total of PEN20bn.

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