stated that the projection for the country's economic growth in the current year should be slightly above 3%, after highlighting that 2024 was very good for the Peruvian economy.
"For 2025, in general terms, we expect growth slightly above 3%, but since we are at the beginning of the second business day of this year, what I would say is that our projections for liabilities are around 3%," Arista indicated.
"But we need to work harder, we need to get organized, because the 3% growth rate is not enough for us," he added.
The government official said that, according to the Labor and Employment Promotion Minister, Peru will register a demand from employers for nearly 470,000 jobs.
"But we have much more; with that, we are reducing the unemployment rate, but let's not forget that approximately 350,000 new young people enter the Peruvian labor market every year," Arista pointed out.
He also said that if we factor in the labor demand, migration from other countries to Peru, and latent unemployment, then the country's economy needs to grow more to generate more jobs, employment, quality, salaries, wages, and greater well-being for the population.
Private Investment
"So, our 3% (economic) growth is not enough. We urgently need to grow at rates between 5%, 6%, or 7%. What do we need for that purpose? We need to attract private investment," Minister Arista stated.
In this regard, he underscored that 80% of the investment made in Peru is private and only 20% is public, which is why attracting private capital is important.
"And how do we attract private investment? We attract private investment when we show them (investors) the solid macroeconomic pillars the country has, when we show them a serious economy that does not change its regulatory framework, when we demonstrate that there is institutional stability, and when we respect the agreements, treaties, and commitments the country has (made)," Arista explained.
"When we show investors that we are a serious country, that we do not impose interest rate controls, exchange controls, or restrictions on the repatriation of resources, and when we sign free trade agreements with as many countries as possible; now, for example, we are incorporating India, Indonesia, and the Philippines," he added.
"When we sign treaties to avoid double taxation; we have two or three ready; one with France, another with the United Kingdom, and the third with China, which should be signed this 2025. That is what allows us to attract private investment, and that is what we are focused on," he underlined.
Remarks were made during a press conference following the Council of Ministers session on Thursday.