Peru: Government Plans Economic Recovery Amid the Pandemic

Peruvian President Martin Vizcarra announced on April 29 an economic plan to help his country's population amid the COVID-19 outbreak.

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Vizcarra stated that the resumption of production is mandatory, mainly after the Peruvian economy was reduced to 50% due to the coronavirus outbreak in the South American nation. A multidisciplinary commission will determine the economic restoration plan. It will be made up of delegates from every ministry and sector. 

Vizcarra explained that his administration would implement the strategy in four stages.  The commission also must determine which productive sectors would gradually restart labor. Fish production has already resumed work under safety and health protocols. 

 Peruvian Production Minister, Rocío Sanchez Alvarado, said they will resume regulations of the Business Support Fund for Small and Medium-sized Enterprises. Through this measure, the Peruvian government will grant credits and loans to local entrepreneurs to alleviate the impact of the virus on the sector.

"Many people have lost their jobs because of this emergency and we must establish the mechanism to be able to recover those jobs," said the Peruvian President.

The President also stated "we cannot have a country with 100 percent of its population living on only 50 percent of the economy. We have to reactivate it gradually and responsibly and that is what we are going to do." 

Resuming economic activity in the south American nation will occur during the pandemic peak and social instability due to lack of incomes and supplies in larger cities.  So far, Peru has registered 33,931 cases, 943 deaths, and 10,037 recoveries.