In the last five years, poverty in Latin America went down 1.9 percentage points, while in Peru poverty dropped by 9 points, that is, reduction was five times greater, in part driven by the implementation of social programs, Economy Minister Alonso Segura said.
“Moreover, rural poverty in Peru declined 16 points, and extreme poverty continues to reduce despite the rise in the region,” he noted.
It is worth mentioning poverty over the last five-year period fell from 30.7% to 21.7% in Peru, whereas in Latin America went from 31.1% to 29.2%.
According to Segura, this sharp decline took place within a less favorable context in comparison to previous five-year periods, due to the fall in the terms of trade.
“Peru has seen the biggest decline in the export price over the past years, and that conditions growth and, therefore, poverty reduction; however, despite this context, this is one of the fastest-growing countries in the region,” he pointed out.
(END) RGP/RMB
Published: 7/23/2016