Fin Min: Peru shows resilience again, estimated to grow faster than the region in 2019

00:01 | Lima, Dec. 20.

Peru has proved its resilience again in 2019, amid a complicated international context caused by the trade war between the United States and China, Economy and Finance Minister Maria Antonieta Alva has affirmed.

"This year, Peruvian economy has demonstrated its resilience one more time, amid a complicated international context, since global growth prospects have deteriorated throughout the year, given the trade war between the United States and China," she pointed out.

According to the cabinet member, this year the economy will post the lowest growth rate since the 2008 global financial crisis (after the fall of Lehman Brothers, an entity that was affected by the subprime mortgage crisis in 2007 in the United States).

"Indeed, the trade war has affected us. Besides, we have seen other supply shocks that affected fishing (sectors) and mining in an atypical domestic political context," she told Andina news agency.

GDP higher than Pacific Alliance's

However, despite this complex context, the minister estimated that the country's economy is growing much faster than that of the region, which this year is expected to grow 0.2%.

Peruvian economy would rise 2.2% in 2019, higher than the Pacific Alliance's growth rate of 1.9%.

"After the latest data for October and November, our growth projection for the end of this year is 2.2%," she added.


Published: 12/20/2019
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