Peru is making one of the greatest fiscal efforts in the world during the fight against the novel coronavirus pandemic; it is supported by monetary and fiscal boosts accounting for 20.3% of GDP, said on Friday Juan Jose Marthans, economist at the School of Management of the University of Piura (PAD).
"Peru is committing around 20% of its GDP in a
countercyclical effort, which is unprecedented in the country's economic history. It is higher than that of Brazil and Colombia, among other economies in the region," he said.
"We must not lose sight of the magnitude of the shock that the world, not only Peru, has been facing in a context of real international recession," he expressed.
According to the figures presented by the economist,
Peru would be making the sixth largest fiscal effort in the world during the fight against COVID-19 —in relative terms, following that of the United States, the United Kingdom, Japan, Italy and Spain —after going from a deficit 1.4% of GDP (2019) to a forecast level of 7.1% (2020).