Pedro Castillo sworn in as Peru’s new president

LIMA, Jul 29, 2021, ANDINA. The new President of the Republic Pedro Castillo on Wednesday affirmed that it is possible to implement economic changes in the country with responsibility while respecting private property, ANDINA reported.

“The population is currently asking for changes, and it is not willing to give up on them. Now, is it true that these changes imply putting at risk the achievements reached by the efforts of all Peruvians over recent decades? No, it isn’t,” Mr. Castillo expressed.

“It is indeed possible to make these changes responsibly, respecting private property, but also putting the interests of the nation first,” he pointed out.

The Head of State said his administration will aim towards this objective, because it will seek to build a more prosperous and fair country, so that the greater creation of wealth and well-being is distributed equitably among all Peruvians.

“This is the commitment that our Government assumes today, July 28, in this Bicentennial. Today we are urged to recover jobs and family incomes. That requires a thorough economic reactivation,” Mr. Castillo indicated.

“Unfortunately, during the electoral campaign, there were attempts to scare citizens telling them the story that we wanted to expropriate savings, homes, cars, factories and other property owned by citizens, which is totally false,” he added.

“We will not do any of that, because we want the economy to maintain order and predictability, which is the basis for investment decisions,” he stressed.

Furthermore, President Castillo emphasized that citizens’ property obtained with efforts, and within the framework of legality, is guaranteed by the Peruvian State.

“What we propose is an end to abuses by monopolies, consortia that corrupt and charge artificially high sums for basic goods and services, as it has happened with domestic gas and medicines, and by financial institutions which charge up to 200% (interest rate) over consumer credit,” he stated.

The Head of State noted that —during the last 30 years— there has been plenty of discussions about the shortcomings of the economic model implemented in the 90s. However, no government had listened to the population’s discomfort and demands.

“But the pandemic ended up making visible the fact that criticisms made of the economic model were legitimate, and they were also valid,” he said.

Remarks were made during his first address to the nation from Congress headquarters.

Mr. Castillo, 51, was sworn in as President of the Republic for the 2021-2026 term in a solemn session held at Congress today.

Tags: Peru