Peruvian public investment amounted to 46,592 million soles during 2022

Statement Ministry of Economy and Finance

This is an automated translation of the press release issued in Spanish

January 3, 2023

The execution of public investment from January to December 2022 reached S/ 46,592 million, a new record figure that exceeds the same period of 2021 by 20% (last historical mark of S/ 38,785 million).

Likewise, the executed public investment represents 72% of the Modified Institutional Budget (PIM), the highest percentage in the last 5 years. This is more meritorious if we consider that the public investment budget for 2022 was the highest of all years.

Regarding the evolution of the execution of public investment during the year 2022, sustained quarterly growth can be seen from the second quarter until the end of the year, reaching the highest monthly execution peak of S/ 8,769 million in December, which represents a growth of 25% compared to the same month of 2021.

At a disaggregated level, the National Government ends the year with an execution of 91% of the PIM, confirming that the executing units at this level executed almost the total of their assigned budget; In turn, regional governments close 2022 executing 63% and local governments 67% of their total budget scheduled for public investment.

It should be noted that of the total unexecuted balance of S/ 18,226 million, the largest amount corresponds to local governments (S/ 11,986 million) and regional governments (S/ 4,553 million); As every year, this unexecuted budget finances the PIM for the following year, so it is not a freely available budget, but rather it is required to continue with the ongoing projects that are already planned in the Multiannual Investment Program. It is important to emphasize that the total unexecuted balance is 28% of the assigned PIM, thus being the lowest in the last 7 years, which is commendable considering that the amount of the PIM has increased each year.

It is important to mention that among the main public investment projects executed in 2022 are, i) the construction of Line 2 of the Lima and Callao Metro (S/ 686 million execution), ii) the improvement and expansion of the Airport of Chinchero in Cusco (S/ 372 million execution), iii) the recovery of the services of the Support Hospital II-2 of Sullana in Piura (S/ 278 million execution), iv) the improvement of the Highway from Huánuco to Conococha (S/ 235 million execution), and v) the expansion of the Northern Section of the Metropolitan in Lima (S/ 205 million execution), among others.

This extraordinary result of the execution of public investment is largely due to the work of the executors at the three levels of government, to the institutionalization of public investment management in the country, which is reflected in technical teams. strengthened from a strategy of intensive and continuous monitoring, technical assistance, as well as the unlocking of the main projects, led by the MEF in recent years.

Thus, throughout the year 2022, 18,749 technical queries were attended in person (+33% than in 2021); 1,367 trainings were carried out (+21% than in 2021) for more than 102,100 thousand participants; 8,426 technical assistances (+38% than in 2021); 479 site visits (+673% compared to 2021); and 3,278 risk alerts were identified in the Execution phase to reduce stoppages (+1,988% than in 2021). Likewise, during the past year, the virtual modality was implemented, thus attending to 7,945 technical queries and 3,566 technical assistance.

For this 2023, the MEF has the commitment to continue strengthening the technical teams of the three levels of government that make up the National System of Multiannual Programming and Investment Management, the National System of Public Budget; the National Supply System, as well as the other Administrative Systems transversal to the Investment Cycle, placing special emphasis on the support of the new technical cadres of regional and local governments, to strengthen their capacities and contribute to the improvement of the management of public investment in the country.

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