INSUBCONTINENT EXCLUSIVE:
which anticipated a 0.2% contraction.Diving deeper, INEI identifies multiple industries behind this downtrend.Particularly, sectors like
construction, agriculture, finance, manufacturing, and hospitality have posted weaker numbers.On the flip side, certain industries, such as
Over the past 12 months, the economy grew slightly by 0.25%.Several factors contribute to this contraction
These events especially impacted agriculture and the fishmeal industry.In a recent statement, Alex Contreras, the Finance Minister,
Monetary Fund (IMF) project moderate growth for Peru.For 2023, the IMF expects a 1.1% increase in the GDP
However, the IMF also issued warnings about challenges such as adverse weather and global financial conditions.Lastly, Bloomberg Economics
provides a more pessimistic outlook
It enjoyed steady growth, low inflation, and a declining poverty rate.The country has vast natural resources, especially in mining, which
has attracted foreign investments.However, social inequality and inadequate infrastructure have been lingering issues.More recently, the
global pandemic hit Peru hard
The country faced one of the highest mortality rates and significant economic contraction.The ongoing struggles may also reflect deeper,
systemic issues that require long-term solutions to stabilize and grow the economy.
