Andina

Fin Min: Economic recovery in Peru is guaranteed

Photo: ANDINA/PCM

Photo: ANDINA/PCM

14:33 | Lima, Jul. 12.

Over the past two decades, Peru has been the country with the highest per capita growth rate in the region and the one with the lowest inflation rate, Economy and Finance Minister Waldo Mendoza reported on Monday.

According to the minister, the Peruvian economy's recovery is rapid and strong, noting that a GDP growth of 3.8% was recorded in the first quarter of this year.

Mendoza affirmed that the Peruvian economy has shown rapid and strong recovery due the fact that credit has grown much more than in normal times —in the form of working capital— thanks to state funding programs totaling S/70 billion (about US$17.6 billion) in loans.

He went on to say that public investment is very dynamic as it grew 261.5% in the first half of the year from the same period in 2020, and 16.4% compared to 2019.

Added to these factors, he said, is the favorable world economic context.

Likewise, employment is recovering and is decreasing much less than in previous quarters.

The high-ranking official highlighted that the future looks bright for Peru as imports of capital goods grew 24.1% in the first quarter of the year and 74.4% in the second quarter compared to the same periods in 2020.

Remarks were made at the virtual press conference, in which a report on his 2020-2021 term was presented.

(END) JJN/JJN/RMB


Published: 7/12/2021
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