On 19th January 2009 Luis Carranza was sworn in as Minister of Economics and Finance, following ex Minister Luis Valdivieso's resignation.
Carranza, who held the post previously from July 2006 to July 2008, highlighted the high degree of continuity in the current Government's macroeconomic policies and vowed to implement fully the Fiscal Stimulus Plan that has already been announced to help stymie any adverse effects from the global financial crisis. In particular, Minister Carranza announced that priority would be given to accelerating public infrastructure works.
Minister Carranza acknowledged the strength that characterizes the Peruvian economy and that distinguishes it among countries in the region, allowing it to be well placed to face the crisis head on with a projected growth rate in 2009 of at least 6%. Nonetheless, he mentioned that should the crisis intensify the Government was in a position to increase its spending on infrastructure and augment the Fiscal Stimulus Plan.
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