Peru lifted 9.5 million people out of poverty in less than two decades

17:19 | Lima, Oct. 25.

Peru lifted 9.5 million citizens out of poverty in less than two decades and reduced extreme poverty to 2.8% of the population, privately-run National Confederation of Private Business Institutions (Confiep) has affirmed.

"This progress was possible thanks to the efforts of millions of Peruvians who contributed with their work and to the promotion of private, national, and foreign investments," Confiep's document Country Agenda 2.0 underlined.

According to Confiep, despite crises, political and economic institutions have maintained macroeconomic stability with fiscal discipline and price stability.

"(…) In order to achieve the goals of eradicating poverty and granting opportunities, we need to give a new boost to economic growth," it reads.

Likewise, the National Institute of Statistics and Informatics (INEI) indicated that poverty rate in Peru stood at 48.4% in 2000 and was reduced to 20.5% in 2018, thus meaning a 27.9% decrease.

On the other hand, extreme poverty in 2001 stood at 15.5% and has fallen to 2.8% in 2018.

Country Agenda

For that reason, Confiep has focused the proposals of the 2nd Country Agenda on measures which can be undertaken in a very short-term and have tangible positive impacts that can lay the path towards long-term competitiveness plans.

(END) SDD/JJN/DTK/MVB

Published: 10/25/2019

Peru lifted 9.5 million people out of poverty in less than two decades

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