Fin Min: Peru's economy to grow 10% despite measures to tackle 2nd wave of COVID-19

09:00 | Lima, Jan. 28.

Economy and Finance Minister Waldo Mendoza affirmed that despite the measures introduced by the Government to reduce the surge of COVID-19 cases during the second wave of the pandemic, Peru's gross domestic product (GDP) will grow around 10% this year.

"We still expect a growth of 10% for this year. There will be a small downturn in February, of course, but the priority is public health, and all these preventive measures are geared towards such priority. The strength of the Peruvian economy is not under discussion," the minister commented.

"As Cabinet members, we believe in the need to make an economic sacrifice to protect public health at this moment," he emphasized.

He went on to say that the adopted measures respect the fiscal responsibility that the Government has stipulated so that the next administration can inherit a healthy economy.

"We hope that the impact will be smaller, but the strength of the Peruvian economy ensures that the economic recovery will be as strong as it has been so far," he said.

Vaccine effect

The minister affirmed that the vaccine is the only element that will transcend the dichotomy between public health and the economy. 

"The vaccine not only leads to an improvement in public health, but also in the economic situation. The Government's objective focuses on this, and we are sure that if something concrete comes up, it will be disclosed by President Sagasti," Mendoza stated.

According to the high-ranking official, the current administration works responsibly on different scenarios —from the most moderate to the most pessimistic one— as well as on actions and measures to be applied in each of them. So, "the population can rest assured."


Published: 1/28/2021
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