Peru is one of the leaders in macroeconomic competitiveness according to the latest World Economic Forum's (WEF) Global Competitiveness Report
, said Miguel Jaramillo, senior economist at the Private Council on Competitiveness.
It must be noted Peru scored 100 in the macroeconomic stability
pillar, which puts it in first place along with other 32 countries.
However, said consensus was not replicated in other pillars, which is why the Andean nation has seen a fall in the ranking.
On the matter, Peruvian Institute of Economy (IPE)
Manager Diego Macera underscored the country must speed up the ongoing reforms to avoid relegation in comparison with peer countries such as Chile, Colombia, and Mexico.
"When reforms are not carried out, we end up in the same place and the other countries move ahead, which may make it seem like our economy is contracting (...)," he explained.