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Fin Min: Peru to continue reducing poverty

10:55 | Lima, Dec. 23.

Economy and Finance Minister Maria Antonieta Alva on Monday said the projected economic growth for this year (2.2%) would allow Peru to continue reducing poverty levels.

"Peru should continue with the reduction of poverty because the minimum we would need to grow in economic terms is 1%, and this year we will grow more than that," she told Andina news agency.

It should be noted poverty in the country dropped from 21.7% (2017) to 20.5% (2018). It means that 313,000 people left poverty behind last year.

The cabinet member indicated that the implementation of the National Competitiveness and Productivity Plan (PNCP) and the National Infrastructure Plan for Competitiveness (PNIC) will contribute to economic growth and thus to poverty reduction.

"If we achieve growth rates of 5%, poverty will be reduced by one 1 to 1.5 points per year," Alva said.

The minister added that with a 5% growth over 20 years, the country will reach a per capita income similar to that of Malaysia.

"Peru is a country of medium-high income, and the idea is: with the implementation of the competitiveness and infrastructure plans, potential growth will rise," she stated.

(END) RGP/JJN/MVB

Published: 12/23/2019

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Fin Min: Peru to continue reducing poverty

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