Peru’s Prime Minister Advocates Deregulatory Shock for Economic Growth

Peru’s Prime Minister Gustavo Adrianzen announced a deregulatory shock designed to eliminate bureaucratic obstacles and enhance productivity, competitiveness, and efficiency in public management. The initiative includes reforms by the Ministry of Economy and Finance and seeks collaboration from municipalities and Congress to overcome resistance and streamline processes for investors.

Prime Minister Gustavo Adrianzen has highlighted the government’s initiative to enact a deregulatory shock aimed at stimulating economic growth in response to bureaucratic impediments. The primary intention is to foster greater productivity, competitiveness, and efficiency within public management.

Adrianzen emphasized the need to continue driving economic growth, asserting, “We must continue driving economic growth because we have the potential to grow at even higher rates. These measures are aimed at achieving that (goal), promoting productivity, competitiveness, and efficiency in public management.” He indicated that the Ministry of Economy and Finance (MEF) will focus on consolidating initial reforms by July, followed by broader governmental engagement in the modernization efforts.

The Prime Minister acknowledged certain resistance from specific state sectors toward the proposed measures. He stressed that bureaucracy has been detrimental to the country’s development, particularly in key sectors like health and education, stating, “You wouldn’t believe how much is required for someone to invest in education, for example.”

Additionally, Adrianzen pointed out that the deregulatory shock aims to simplify licensing procedures for investors. He noted that excessive delays hinder growth, stating, “This measure is a clear response to the need to untangle the bureaucratic web that harms us so much.”

The Prime Minister has urged municipalities and the Congress of the Republic to actively participate in these reforms. He stated the necessity for discussions with legislative leaders to promote collaborative involvement. Adrianzen observed that, on occasion, municipalities have exploited bureaucratic barriers for financial gain; thus, the government seeks to create incentives for their constructive participation in this transformative effort.

In summary, Prime Minister Gustavo Adrianzen is advocating for a deregulatory shock to enhance economic growth by addressing bureaucratic inefficiencies in Peru. Efforts will focus on improving productivity and competitiveness, specifically in the health and education sectors. The government aims to involve municipalities and legislative bodies in this initiative to foster collaborative reform and reduce bureaucratic obstacles for investors.

Original Source: andina.pe