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Factbox: Peru's presidential candidates and their policies

(Reuters) - Keiko Fujimori, the conservative daughter of a jailed former president, was heading towards a tight runoff against investor favorite Pedro Pablo Kuczynski after the first round of elections on Sunday.

Slideshow ( 3 images )

Fujimori, whose father Alberto was Peru’s authoritarian leader throughout the 1990s, fell short of the 50 percent of votes needed for outright victory in the first ballot and faces a second round vote on June 5.

The free-market model that has been in place for 25 years in Peru would be maintained in either a Kuczynski or Fujimori presidency. Kuczynski, 77, is more liberal on some social issues than Fujimori while he is considered slightly more to the right in economic policy.

Below are key policies supported by Fujimori and Kuczynski, one of which will succeed President Ollanta Humala.

KEIKO FUJIMORI

* A 40-year-old former lawmaker who lost the presidency to Humala in 2011, Fujimori has moderated her right-wing stance and pledged not to repeat the autocratic actions of her father. The elder Fujimori closed Peru’s congress in 1992 and was later jailed for corruption and human rights abuse.

* To boost economic growth that has waned in recent years due to falling mineral prices, Fujimori pledged to tap a $7 billion rainy day fund and issue new debt to implement an infrastructure “shock” in a country that remains largely undeveloped beyond its main cities.

* While friendly to business, Fujimori says she would not back rural mining projects unless they have the support of nearby towns. She promises stiff fines for polluting companies.

* Fujimori is tough on crime and wants to build prisons at high altitudes in the Andes to isolate prisoners. She also wants the military to protect government institutions and supports the death penalty in some cases.

PEDRO PABLO KUCZYNSKI

* A former prime minister, Kuczynski is widely backed by Peru’s business elite and pledges to cut red tape, seek private partners to roll out new infrastructure projects and raise annual economic growth to 5 percent.

* He also promises to promote investment by following a “sensible center” and wants to cut sales taxes and give rebates to companies that reinvest their profits.

* Kuczynski says he would work to push out mining projects that have been stalled by red tape and conflicts in the world’s No. 3 copper producer, and change laws so that communities get a bigger share of mining proceeds.

* The septuagenarian promises to manually eradicate coca plants and squash remaining bands of Shining Path rebels by 2018. He promised to boost police patrols and triple the number of detectives as crime became a greater voter concern.

Reporting by Caroline Stauffer; Editing by Nick Zieminski

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