LatinNews Daily - 23 October 2023
In brief: Peru's congress approves stimulus package as gov't admits recession
* Peru’s congress has approved an economic stimulus package requested by the government totalling PEN1.58bn (US$408.1m). The funds will be used for economic reactivation and to respond to the El Niño climate phenomenon. The bill seeking the stimulus was approved with 88 votes in favour, four against, and four abstentions. Speaking after its approval, Economy & Finance Minister Alex Contreras acknowledged that the country has “without doubt” entered a recession, saying that the country is in a “challenging situation” after economic output fell in July, August, and September.
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