, which will place it at the forefront of the region's economic performance.
"For 2024, the country leading growth (rates) in the region is Peru, with 3.2%, leaving behind Uruguay, Brazil, Chile, Colombia, Mexico, Bolivia, Ecuador, and the Latin American average, which stands at 1.8%," he stated.
During his presentation at a Congress plenary session on Wednesday to support the Public Sector Budget Bill for Fiscal Year 2025, Arista indicated that economic activity will grow by 4% in the last quarter (October-November-December) and will close 2024 with a 3.2% expansion.
"In 2023, Peru's economy was in the red, with a recession of -0.6%. In that context, we began working, and the outcome this year will be a 3.2% growth rate," he stated.
The minister considered that the growing trend recorded in recent quarters is just as important as the global economic growth in 2024.
"Growth was 1.4% in the first quarter, 3.6% in the second, 3.8% in the third, and hopefully, by this fourth quarter, we will be approaching a 4% growth. Therefore, 2025 will be a better year than 2024," he explained.
The Cabinet member indicated that these results and projections are being considered to support the Public Sector Budget Bill for Fiscal Year 2025.
"First of all, I want to address the issue of macroeconomic assumptions and perspectives because, as you know, Peru is a globalized economy; besides, we are part of what is happening in the global economy, from China to Europe," Arista noted.
"We are estimating a 3.1% growth for the global economy. The U.S. economy is expected to grow by 1.8%, the Eurozone's by 1.4%, China's by 4.5%, and our trading partners' growth is expected to be 2.7%," he added.