Economic News

The Peruvian Economy will grow 2.8% this year

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The Minister of Economy, Alonso Segura, said in a news conference that despite the economic slowdown in Latin America, the Peruvian economy is recovering moderately and will reach a 2.8% growth rate this year and 3.5% in 2016.

Minister Segura explained that "for the last years there has been a large external shock, which was accentuated in the last 18 months, with dramatic falls in commodity prices, especially metals. (Despite this) The Peruvian economy has not stopped growing one month. "

This economic recovery is the result of the different policies taken since the beginning of 2014 related to expenses, taxes, streamlining administrative processes, among others, fostering domestic consumption and investments. In this period, the government issued 33 legislative decrees to facilitate and promote private investment in public private partnerships (PPP), and to expand the scope of the Infrastructure for tax program.

The Peruvian Government believes that in the coming months the economy will keep growing supported by mining projects and infrastructure projects that will start to operate soon.

Source: El Peruano.

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