Peru: More than 70% of the MINEM budget for 2023 will be allocated to investments in social development

by Minem

This is a machine translation of the original press release issued in Spanish

In 2023, the Ministry of Energy and Mines (MINEM) plans to use more than 70% of its institutional budget in investments that contribute to social development through rural electrification, environmental remediation, the massification of natural gas, the formalization of small mining and artisanal mining, among others.

In supporting the institutional budget of the sector before the Plenary of the Congress of the Republic, the head of MINEM, Oliverio Muñoz Cabrera, pointed out that by 2023 said portfolio will have S/ 1,054 million to execute, of which S/ 742.3 million will be allocated to works and capacity building for regional governments.

He mainly highlighted the importance of access to energy, for this reason he reported that the MINEM set the goal of reaching, in 2023, a Rural Electrification Coefficient of 90% nationwide, allowing more than 62,000 families to have electricity for the first time in their homes.

The minister pointed out that, for next year, the regions with the highest number of electrification projects will be Cajamarca (12), Loreto (12), Puno (10), Áncash (9) and La Libertad (7).

Regarding the massification of natural gas, he announced that next year there will be an investment of S/ 15.6 million in Petroperú to strengthen the administration of the South West Concession of Petroperú, so that more households have access to this economic resource in the cities of Arequipa, Ilo, Moquegua and Tacna.

Other important investments will be allocated to the remediation of Mining Environmental Liabilities (PAM), the strengthening of the formalization processes of small-scale mining, the Electric Transmission Investment Plan "PIT Program" and the strengthening of capacities of regional governments in mining and energy issues.