highlighted that Peru's trade surplus allows for a low and stable U.S. dollar exchange rate.
"Our trade balance is in surplus annually, with a monthly surplus of US$2 billion. And what does this allow us to do? It allows us to have a low exchange rate for the U.S. dollar. Today, I gladly see the price of chicken falling. Why? Because we have a stable dollar," Arista explained.
"There is plenty of currency stability. And why is that? Because all sectors are working in an orderly manner, seeking more markets, trying to expand exports, aiming to develop more irrigation projects to be able to increase crops and be able to export (…)," he added.
The interbank exchange rate closed at S/3.778 per dollar on Tuesday, accumulating a variation of 1.18% over the past 12 months, according to data from the Central Reserve Bank (BCR).
Similarly, the minister noted that efforts have been made to improve macroeconomic indicators, following the setback experienced in 2023.
"In 2024, we have worked to improve these indicators; we (Peru's GDP) have grown 3.2%; in fact, we have led growth (ranking) across Latin America. But we cannot be a flash in the pan; what we have to do is sustain this growth, and to achieve this, we have to attract more private investment, be more efficient with public investment, and open more markets," Arista said.
"That is why the president is so eager to encourage ministers to sign more free trade agreements, to better promote the country's image," he added.
In this regard, the government official mentioned that Peru is signing agreements to avoid double taxation with France, the United Kingdom, Spain, and China.
"We are trying to expand our free trade agreements, for example, with India and -I think- Vietnam or two or three other countries. In other cases, we are trying to reassess or rethink our free trade agreements. And that is our goal: to show that Peru has immense possibilities to attract private investment because we need to grow," he emphasized.
Lastly, the economist highlighted that Peru's international reserves were at US$71 billion two years ago and currently amount to US$82 billion.
(END) MDV/MVB