Andina

Peru to be among three fastest-growing economies in South America (2022-2026)

Photo: ANDINA/Archive

Photo: ANDINA/Archive

11:00 | Lima, Aug. 27.

Economy-Finance Minister Kurt Burneo pointed out that Peru, according to a GDP growth projection of 3.3%, will be the third country in South America with the highest economic growth in the period between 2022 and 2026.

"In the 2022-2026 period, Peru will be among the top positions. Of course, anyone could say, why is it important that Peru enjoys a growth rate level that places it third in relation to the whole South America?" the government official expressed.

"In this sense, I think it is an element to say that we are not doing things so badly, and I am not talking about this administration because this is something that started much earlier," he added.

During the presentation of the Multiannual Macroeconomic Framework (MMM) 2023-2026, Minister Burneo said the projection that Peru could be among the region's economies to register highest growths in the coming years provides optimism.

"It is definitely an element that can raise reasonable optimism, despite all the problems we face," he said.

According to the forecasts shown by the Ministry of Economy and Finance (MEF), Colombia (3.6%) is projected to lead South American economic growth between 2022 and 2026 —followed by Bolivia (3.4%), Peru (3.3%), Uruguay (3%), Ecuador (2.4%), Argentina (1.8%), Chile (1.7%), and Brazil (1.5%). Even Mexico might have an average expansion of 2.7% —below that of Peruvian economy.

Similarly, the recent Multiannual Macroeconomic Framework presented by MEF projected the following growth path for Peru's GDP: 3.3% (2022), 3.5% (2023), 3.4% (2024), 3.3% (2025), and 3.2% (2026).

"The external sector does not help us in terms of economic reactivation. In the domestic sphere, the forecast says growing 3.3% in 2022 and expanding 3.5% in 2023 are rates that we should try to increase," he concluded.

(END) CNA/MVB

Published: 8/27/2022