Peru can grow at a sustained rate of 7% yearly and reduce its poverty rate by 6 percentage points by 2021, with a per capita income of US$17,709, informed the Lima Chamber of Commerce (CCL).
According to Cesar Peñaranda, Executive Director at the Institute of Economics and Business Development (IEDEP), this goal can be achieved if the country meets the necessary conditions.
He said it is necessary to set an economic agenda for 2016-21 that consists of four important pillars: maintaining macroeconomic stability, improving business environment and increasing investment, enhancing productivity and viewing the world as a market.
"There are many project already, what we need is to build certainty and confidence," Peñaranda said as he attended the Ninth International Forum of Economy "Quo Vadis Peru 2015: Towards the bicentennial year. Economic Program 2016-2021."
As for private investment, he said, it is the second most important driver of the economy, as it accounts for 20.6% of the country’s gross domestic product (GDP) and 79% of total investment.
As far as infrastructure is concerned, the gap remains large, currently estimated at US$107 billion, 30% of which involves the energy sector, 19.5% transport and 18% housing.
"In view of this situation, concessions, public-private partnerships and works for taxes need to be promoted," he added.
(END) ESV/RGP/RMB
Published: 4/23/2015