The Peruvian economy grew 5.2% in February 2022 compared to pre-pandemic levels (February 2019). This growth was largely explained by the recovery of sectors affected by the COVID-19 crisis and not by a statistical effect,
Economy and Finance Minister Oscar Graham has reported.
In this regard,
Minister Graham explained that leading indicators remain above pre-pandemic levels.
His remarks were delivered on Monday during his appearance before the Congressional Budget Commission.
For example, electricity production is 2.9% higher compared to 2019, and export shipment orders are 52.1% higher also compared to 2019.
"Despite the international inflationary context, the Peruvian economy continues to recover. We continue on a path of growth, and now we can talk about a recovery not only due to a statistical rebound," the government official pointed out.
He noted that increasing the pace of vaccination is key to economic recovery as it will lift capacity limits, as well as promote the movement of people and return to classes, thus generating greater economic activity, which will be reflected in this year's economic growth.
Moreover, the minister emphasized that Peru has a level of foreign debt of 36 percentage points of GDP, which is fairly low compared to other countries in the region (which report an average level of 72% of GDP) and emerging countries worldwide (which report an average level of 65% of GDP).
(END) NDP/CNA/RMB/MVB
Published: 5/10/2022