Peruvian economic growth is not only supported by past beneficial mineral prices, but by good governance based on inclusive growth, World Bank Group (WBG) President Jim Yong Kim expressed on Wednesday.
Over the last 20 years, implemented macroeconomic reforms have led to exceptional results in the country.
"This country must be proud of what it has achieved over the two previous decades," he underlined.
According to the WBG official, Peru is one of the few nations, which have managed to remain on an expansive phase while decreasing poverty.
Peru is a "country with a vibrant economy" and a solid private sector. Thus, it has become one of South America’s "growth stars," he said.
Jim went on to add the progress is shared with the population. Since 2000, nearly 25% of Peruvians have risen from poverty. 40% of them have joined the middle-income level, he indicated.
"Peru is one of the world's fastest poverty and inequality reducing countries in the world," the WBG President affirmed.
This way, he said there are other countries, which follow Peru's economic performance as model of growth and development.
(END) SDD/JJN/AVV/MVB