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President Vizcarra: Peru's economic growth trend is encouraging

17:59 | Lima, Oct. 16.

The Peruvian economy recovered for the fourth consecutive month in August, said President Martin Vizcarra, noting that this growth trend is encouraging.

As he explained, the economy experienced a single-digit decline in August after a sharp drop in April —due to the pandemic— plus the recovery that began in May and continued in June and July.

"August figures are encouraging in this steady growth trend of our economy," he underscored.

At the same time, employment continued to rise in September, he said, and nearly 300,000 jobs were recovered only in the Lima Metropolitan Area —compared to the previous month— especially in the construction sector.

"The results show that Peru is in the process of reactivation, and this last quarter of the year will be crucial to the economic scenario," Vizcarra commented.

In this sense, he emphasized the progress made in the maintenance of 50,000 kilometers of rural roads, as well as the intensive work done as part of the second runway at Jorge Chavez International Airport, the Lima Metro Line 2 works, the ports of Chancay, Salaverry, and San Martin, as well as the reconstruction works in northern Peru.

"And, in the last three months of the year, we will complete the payment of the second Universal Family Bond to more than 8,400,000 households, which entails an investment of S/6.5 billion (around US$1.8 billion) for those who need it most. Regarding education, we have begun the delivery of one million tablets," he added.

(END) VVS/CVC/RMB

Published: 10/16/2020
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