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FocusEconomics: Peru Govt unveils region's largest stimulus package to combat COVID-19

15:11 | Madrid (Spain), Apr. 21.

The Government of Peru announced a massive stimulus package worth up to 12% of GDP at the end of March, in a bid to mitigate the economic fallout from COVID-19, FocusEconomics' latest LatinFocus Consensus Forecast report has highlighted.

According to FocusEconomics, the Peruvian economy is expected to be hard hit by the pandemic as a stay-at-home mandatory isolation period and curfews squash domestic spending, while low metals prices and shriveled demand dent the important exports sector.

"However, aggressive measures by both fiscal and monetary authorities should help the economy weather the storm relatively well compared to other emerging market peers," FocusEconomics stressed.

"Relative to its peers, the country also has ample fiscal space, low debt levels and solid buffers," it added.

The stimulus package is aimed at combating the current economic fallout, supporting struggling businesses and fueling the recovery after the health crisis ends.

Editor's note: Based on information provided by FocusEconomics.

(END) NDP/MVB

Published: 4/21/2020

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FocusEconomics: Peru Govt unveils region's largest stimulus package to combat COVID-19

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