President Martin Vizcarra on Wednesday affirmed Peru currently registers important economic growth.
"We guarantee it (Peruvian economy)
will grow above 4%, and by 2021 growth will stand above 5%," the President expressed.
According to the Head of State, these rates make sense if the Inca nation relies on solid institutions, something the country was lacking. Therefore, his administration decided to
boost political-justice reforms.
The top official said the needed
reform proposals are backed by all Peruvians, adding the bills have also the support of the political and business class, whose members agree that investments require stability and sound institutions.
Although the reforms were met with resistance from Congress at first, it has understood the idea and accepted the changes. Thus, Parliament is expected to subject these proposals to a referendum
before 2018 ends.
Investment
"We estimate that in the coming years we will maintain the proposed growth level, and by trusting the system, we will draw
more investments," the Peruvian leader indicated.
In this sense, he said the
Pacific Alliance —including Peru— has all the conditions to keep growing with greater predictability and confidence in their institutions.
On this occasion, he was joined by counterparts Sebastian Piñera (Chile), Ivan Duque (Colombia), and Enrique Peña Nieto (Mexico).
About
The Pacific Alliance —created in 2011— is an integration initiative focused on reducing trade barriers, as well as fostering the free circulation of goods, services, capitals, and people across its territories.
The bloc relies on observer countries and represents the eighth-largest economy in the world.
Nowadays, it has become the axis of a new way of doing business in the continent.
On an annual basis, the
Pacific Alliance rotates the pro-tempore presidency among its members.
It must be noted Chile was handed over the presidency by Peru in 2016, and then Colombia was chosen to hold it in 2017.