35 billion) increase, which will be canadian goose jacket

Peru lifts 2017 budget to deal with extreme flooding

(Adds comments from finance minister and analyst on impacts on growth, context)

By Teresa Cespedes and Mitra Taj

LIMA, March 17 (Reuters) The government Canada Goose Outlet of Peruvian President Pedro Pablo Kuczynski is hiking the 2017 budget by 3 percent in 2018 canada goose outlet order to fund emergency and Canada Goose Online recovery canada goose coats on sale efforts as the Andean nation grapples with deadly downpours and extreme flooding.

Peru Finance Minister Alfredo Thorne said the 4.4 billion sol ($1.35 billion) increase, which will be canadian goose jacket published in canada goose an urgent decree buy canada goose jacket cheap on Saturday, would not affect his buy canada goose jacket 2017 fiscal deficit target of 2.5 percent of canada goose deals gross domestic product.

The decree will also create a special tax Canada Goose Jackets exemption for companies that donate food and other goods for emergency efforts, Thorne said.

At least 62 people have died in rain related events canada goose store since December, many in recent days after canada goose black friday sale a sudden warming of Pacific waters near Peru unleashed torrential downpours, landslides and flooding.

Kuczynski, a 78 year old economist, said Peru has not canada goose uk seen such extreme rains since the powerful global El Nino weather pattern of 1997 1998.

Before the floods, Kuczynski government had been working to counter canada goose clearance sale the impacts of a corruption scandal that has delayed its plans to boost domestic demand with Canada Goose Parka infrastructure projects.

Thorne told Reuters cheap Canada Goose he did not expect the extreme weather to prompt a downward revision to official Canada Goose Coats On Sale growth canada goose outlet store locations estimates of 3.8 percent for 2017 and 4.3 percent for 2018.

The floods might even help bolster economic growth starting in the second quarter if the government can orchestrate a rapid reconstruction effort, despite the damages wrought, said Pedro Tuesta, the chief Latin American analyst canada goose outlet toronto factory for 4Cast and canada goose clearance a Peru canadagoosejacketca native.

may have fewer assets but the flow of production could be larger, Tuesta said. it all depends on the Canada Goose online government response.

About half of Peru has been declared in emergency to expedite resources to the hardest hit areas, the government said.

The extreme weather could fan inflation as canada goose coats some food prices have risen on supply disruptions from farming regions.

The floods have destroyed 1,250 km (777 miles) of canada goose replica highway and blocked parts of the main road linking the interior of the country to Lima, according to the civil defense Canada Goose sale institute.