Peru is on the verge of a favorable economic cycle, with an acceleration in domestic demand needed to generate formal employment, Moody's Investors Service Vice-President Jaime Reusche affirmed Wednesday.
"We are on the verge of a favorable acceleration cycle, after four years of disappointing results, which were favorable but disappointing compared to what Peru was used to (register)," he said.
The Inca country saw growth rates below the peaks of 9.1% (2008) and 5.8% (2013). Thus, it recorded 3.3% (2015),
4.0% (2016), and
2.5% (2017).
Yet, Reusche said Moody's maintains its projection at 3.5% for the current year.