Andina

Fin Min: Enhanced competitiveness to allow Peru reduce vulnerability to external shocks

11:03 | Lima, Sep. 3.

Peruvian economy's capacity to generate well-being, after decades of strong growth, has been weakened due to different factors including the internal crisis.

This context makes the country face a series of structural challenges that limit its growth potential, Economy and Finance Minister Carlos Oliva said.

"Our economy would be less vulnerable to external shocks if we diversified our productive matrix with intensive industries in technologies and knowledge."

He claimed his portfolio faces the major challenge of making the country's economic growth sustainable, so that it can create quality jobs that contribute to ongoing efforts to eradicate poverty and consolidate the middle classes.

National Plan

The 2019-2030 National Competitiveness and Productivity Plan, which includes a number of measures to underpin the medium and long-term economic growth, was approved on July 28 in order to handle such challenges in a better way.

This plan is intended to provide a link between the country's vision —formulated and designed on the basis of the National Competitiveness and Productivity Policy (PNCP)— and the implementation of policy actions needed to direct the reality of the country towards that vision.

The importance of adding articulated efforts of the agents who intervene at each stage of the economic and social activity —to guarantee the political viability of its implementation— has prevailed since the design phase.

The plan also articulates public and private sectors' efforts with regard to competitiveness and productivity, which will give the country the opportunity to have higher income levels and build its well-being. 

(END) DOP/CNA/RMB/MVB

Published: 9/3/2019