Humala Will not Spoil the Growth of Peru

Ollanta Humala, Peru’s elected president, said he will reach a consensus in terms of a tax rising with the mining sector. He also ensured he will not collect a debt in order to finance social plans after the 12% reverse suffered by the Peruvian stock market last Monday.

Miners such as Xstrata and Buenaventura (local) confirmed its investment plans, unlike Southern Copper, who reassessed their investments by $ 2.000 million waiting for the incoming government to show stability.

Humala said Peru’s economy “is strong” and he will not spoil the country’s economic growth and he will be” responsible for the money management”, he also guaranteed “all social policies that are in the program will take off from the whole economic growth by redirecting spending.

Humala said his government would join the “Latin American bloc” and reiterated he has no intention of copying Venezuelan leader Hugo Chávez.

Source: El Comercio Newspaper