Reconstruction of Peru will cost some 9,000 million dollars

Several studies claim that the rains that occurred in the country are similar to the phenomenon of El Niño of 1998 | Photo: EFE

The costs for the reconstruction of areas destroyed by the rains and floods would cost the Government up to 3,000 million dollars in the short term, reaching the 9,000 million dollars in five years, according to President Pedro Pablo Kuczynski. 
The Government project plans to raise the limit of the fiscal deficit to accumulate from this year to 2020, an increase of 3.2 percent of gross domestic product (GDP) between, which equals six thousand 253 million dollars.

According to the Ministry of economy, projected spending will allow boost the economy, now retracted by various factors, which called into question the Economist Farid Matuk, ex-Chief of the National Institute of statistics.

The expert pointed out that the amount resulting from the increase in the fiscal deficit only will be used for the reconstruction of public infrastructure and the cost of housing or repair borne by those affected.

#Perú more than 700 thousand Peruvians from the North at risk of falling into poverty as a result of the el Niño phenomenon (Via: @camaradelima) – Jaime Herrera (@JaimeteleSUR) 25 April 2017 heavy rains and floods in Peru left 114 dead, 185.873 injured and one million affected 81.893.