Peru Fin Min looks to consolidate strong growth

00:06 | Lima, Jun. 15.

Peru's Economy and Finance Minister Carlos Oliva said his sector is seeking to consolidate growth with fiscal prudence so as to reach the population through quality services.

Oliva emphasized the Government intends to achieve high growth rates with the support of public and private investment, fueled by domestic demand, and productive sectors, as well as with fiscal prudence and economic balance.

"We are going to consolidate and underpin the good economic performance, in a context in which growth was close to 7% in April —as everybody knows— and will remain strong in May —although not at that level— due to current indicators," he noted.

According to the government official, Peru needs fiscal prudence to achieve sustainable growth. Though the deficit will stay above 3% of GDP this year —as expected— the administration needs to push it down to 1% by 2021.

"This will generate jobs, incomes, and more capabilities. In the end, poverty will start to decline, and homes will feel less vulnerable. I believe the central objective of the economic policy and current Government efforts should move in this direction," he affirmed.

Oliva held a press conference along with Peru's Prime Minister Cesar Villanueva to inform of the economic policy guidelines.

Peru's economy grew 3.93% in March this year, compared to the same month in 2017, thus marking 104 months of sustained growth, the National Institute of Statistics and Informatics (INEI) previously reported.

According to INEI's National Production Technical Report, national production expanded 3.22% in the first quarter of 2018 and 2.69% in the last 12-month period (April 2017-March 2018).

(END) RMB/MVB

Published: 6/15/2018

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Peru Fin Min looks to consolidate strong growth

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