Andina

Peru economy to expand 4% in 2019

00:00 | Lima, Mar. 21.

Peru's economy might expand 4% in 2019, thus posting one of the highest growth rates in the region just behind Bolivia (4.2%), Peruvian Institute of Economy (IPE) has projected.

According to IPE General Manager Diego Macera, the Inca country's GDP would be underpinned by private investment, which would register a 6.9% rise.

Likewise, domestic demand may increase 4.1% this year, while exports might expand 4.4%. 

2020 projection 

Furthermore, Macera projected the Inca country's GDP will post a 4.2% increase in 2020, driven by private (+8%) and public (+7.3%) investments

Domestic demand and foreign sales may also rise next year by 4.3% and 5%, respectively. 

Productivity 

On the other hand, he indicated one of the challenges is to improve productivity in Peru, adding most citizens work in low-productivity companies such as micro-enterprises.

Moreover, Macera noted poverty rates went down in the last decade mainly due to economic growth. 

(END) MMG/JJN/DTK/MVB

Published: 3/21/2019
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