On Wednesday Peru’s executive branch issued an emergency decree that allows for the allocation of 381.5 million soles to finance the purchase of products from micro and small enterprises, from now until June 2012, in order to maintain and promote the vitality of the Peruvian economy.
The decision is part of an emergency decree that called for extraordinary measures to be taken regarding the country’s finances.
Micro and small enterprises must meet characteristics specified in the Law for the Promotion of Competitiveness, Development and Formalization of Micro and Small Enterprises.
According to Andina, the Ministry of Education plans on purchasing school uniforms, shoes and supplies.
The Ministry of Defense plans on spending part of their allocation on clothing and equipment for the army, navy and air force.
The plan will run until June 30, 2012 and any balance that remains after the deadline will be deposited in the Treasury.
The decree also authorized additional spending of up to 210 million soles to be implemented in public investment projects in the Apurimac and Ene River Valley (VRAE), and other locations, in order to improve social and economic conditions in areas of extreme poverty.