Peru expects to lead growth in the region in the next three years

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Lima, Jul 3 (EFE) .- Peru will lead economic growth in the region in the next three years, reaching a 10% rise in its gross domestic product (GDP) in 2021, according to the estimates of the Minister of Economy , Waldo Mendoza.

“Not only this year is Peru going to lead economic growth. According to the projections we have, it will also do so in the next three years. In other words, we are going to recover practically everything we lost last year in a single year. , which is great, “Mendoza told RPP Noticias.

Peru’s GDP fell 11% in 2020, after having registered a 40% decrease in April of that year due to the quarantine due to the first wave of the pandemic.

The Peruvian minister added that one of the reasons for the recovery is compliance with the fiscal monetary policy, designed by the Central Reserve Bank (BCR) and the office it directs.

He recalled that the first wave of the covid-19 pandemic forced the Government to implement a strict quarantine, but that without financial support it would not have been possible for companies and families to survive the closure of productive activities.

“In these circumstances, companies do not produce, they do not sell. If no one had supported them, they would have gone bankrupt en masse”, but “there came the credit support. The Peruvian State placed more or less 80,000 million soles (20,600 million dollars) in companies through different mechanisms, “Mendoza said.

Likewise, the minister highlighted the public investment that this year will increase to 40,000 million soles (10,300 million dollars), considered by Mendoza as “the highest in contemporary history” in the country.

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