By Marco Aquino
LIMA (Reuters) – Peru’s government is readying a massive economic stimulus package worth around 12% of gross domestic product to help mitigate the impact of a global coronavirus pandemic, the copper-rich country’s economy minister said late on Sunday.
The South American nation is planning to spend 90 billion soles ($26.41 billion) to support citizens and the key mining sector, Economy Minister Maria Antonieta Alva said in a televised interview on Sunday.
The package will have three phases of 30 billion soles each; containing the disease, ensuring companies’ payment chains by granting credit guarantees, and reactivating production.
“We are preparing to invest at least 12 GDP points for this; it is an unprecedented measure,” Alva said in an interview with local channel América Televisión.
(Reporting by Marco Aquino; Writing by Adam Jourdan)
