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Peru President: 4% GDP rise to contribute to poverty reduction in 2018

15:54 | Lima, Jul. 28.

President Martin Vizcarra on Saturday affirmed the momentum witnessed in public and private investments, as well as increased families' incomes, will be the main pillars of economic growth during his administration.

"This Government has undertaken a series of actions aimed at redirecting the country," the statesman pointed out.

"These measures seek to implement, in the shortest time possible, the pillars of economic growth: to boost public and private investments, as well as to improve the incomes of all households," he added.

In his address to the nation, the Head of State recalled his administration inherited a stagnant economy —along with a political polarization— that generated an environment hit by uncertainty. Said situation led to a decrease in terms of growth and investments.

"For the first time in this millennium, poverty increased. This is an indicator that should worry us all, and we cannot remain indifferent to this situation (...). It is our responsibility to reverse that trend," he expressed.

Nevertheless, the first results of measures implemented by the Government have started to emerge. According to the latest reports, Peruvian economy is on a solid growth path.

"Nowadays, we can be sure we will achieve a growth rate of around 4% this year, well above the 2.5% growth in 2017. Public investment grew 18.6% in the first half of 2018, thus becoming one of the economy's (growth) engines," he noted.

Remarks were made at Congress headquarters on the occasion of Peru's 197th Independence Day anniversary celebrations.

(END) CNA/JJN/JAA/MVB

Published: 7/28/2018
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