Andina

Peru: Economic growth to average 5.1% in 2021-2026 period

Photo: Courtesy

Photo: Courtesy

12:00 | Lima, Jan. 11.

According to the 2016-2021 Administration Pre-Electoral Report, the Peruvian economy would grow an average of 5.1% between 2021 and 2026 —based on projections issued by the Ministry of Economy and Finance (MEF).

The report —published Monday by the Presidency of the Council of Ministers— details that said growth would be sustained by the strengthening of domestic demand associated with greater capital accumulation, the boost to competitiveness, and economic productivity.

Likewise, a greater external demand linked to the improvement of the international context will contribute to this performance.
 

Situation and outlooks

It must be noted that the report is an instrument which allows presidential and congressional candidates to take into account the country's economic situation and outlooks.

Furthermore, it means a scope with regard to the economic conditions that the current administration had to face, and the benchmark indicators on the national economy.

In addition, it contains aspects that the next administration will be able to evaluate in order to face its challenges.

The document highlights that —following the economic recovery in 2021— there would be an average annual growth of 4.1% between 2022 and 2026, mainly favored by the normalization of operations linked to economic activities; the strengthening of domestic demand associated with the construction of mining and non-mining investment projects, which will boost employment and family consumption; as well as economic policy measures aimed at improving the economy's efficiency and competitiveness.

This growth will exceed that recorded between 2016 and 2019 (3.2%), and might be higher than that registered by Latin American countries such as Colombia (3.8%), Chile (3.1%), Mexico (2.4%), and Brazil (2.3%).

As is known, the general elections will be held on April 11, 2021, and the next administration will take office on July 28.

(END) NDP/SDD/MVB

Published: 1/11/2021