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Peru: Economic Reactivation's Phase 4 will be intensive in job creation

International flights are considered in the Economic Reactivation

International flights are considered in the Economic Reactivation's Phase 4. Photo:ANDINA/Jhonel Rodríguez Robles

15:51 | Lima, Sep. 15.

One of the main characteristics of the Economic Reactivation's Phase 4 —which is scheduled to start in October— is that it considers activities which are intensive for job creation, economist Elmer Cuba affirmed on Tuesday.

"Although this phase was left for the end, because it considers activities with the highest potential for (COVID-19) contagion, it is necessary to start them as these represent a significant number of jobs," he told RPP radio and TV station.

Cuba emphasized that the only way for the economy to continue improving and generating employment is to enter Phase 4.

"Of course, (this must be done) with great care in terms of health-related issues to avoid the worsening of the coronavirus pandemic, as is happening in some European countries," he expressed.

Likewise, the economist stressed that without the beginning of this phase, the process of reactivating the economy could be stuck in limbo.

Impact

The economist commented that the GDP result in July (-11.7%) shows the effects of the beginning of Phase 3, but in the second fortnight.

"In (the results of) August, the impact of this phase will be seen more clearly, which could report a (GDP rate of) -7%," he said.

As is known, the national economy registered negative growth rates in March (-16.66%), April (-39.93%), May (-32.72%), June (-18.06%), and July (-11.71%).

The fourth month of the year marked a breaking point because —after April— a rebound can be witnessed.

(END) SDD/JJN/MVB

Published: 9/15/2020
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