Peruvian economy is set to post a growth ranging from 4 percent to 4.5 percent, increasing at a rate double that of Latin America set at about 2 percent, according to the International Monetary Fund (IMF).
IMF Deputy Managing Director, Min Zhu, highlighted that while international environment does not allow a greater projection, it is important to sustain a steady expansion pace above the countries of the region.
In statements to El Peruano official daily, he went on to underline there are several reasons to explain the slowdown in the growth rate of the Andean nation’s Gross Domestic Product (GDP).
The most influential of them, Zhu said, is the downward trend of the global economy which forces Peru to readjust their indicators, like many countries worldwide.
The high-level IMF official stressed the greatest challenge Peru faces is to record a further progress in an environment of moderate economic growth by turning its macroeconomic framework into a more competitive scheme.
"The country was the leader of economic development in Lain American for 20 years,” he said, adding “This allows Peru to deal with this situation with better future prospects".
In this regard, the deputy chief of the multilateral entity noted that the key fundamental in this new era lies on promoting structural reforms.
"Among them are those relating to taxes, reducing red tape, make the market more friendly to the segment of small and medium-sized enterprise (SMEs) and to foster productivity," he said.
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Published: 7/25/2014