Andina

Peruvian economy may grow by average 4.5% in upcoming years

LIMA,PERU-MAYO 05.Via expresa y Centro Financiero.Foto: ANDINA/Oscar Farje Gomero.

LIMA,PERU-MAYO 05.Via expresa y Centro Financiero.Foto: ANDINA/Oscar Farje Gomero.

12:14 | Lima, Oct. 12.

Peruvian economy may expand by an average 4.5% in upcoming years due to its soundness in the region and for having tackled shocks emerging from the world's current financial situation, Peru BBVA Research Chief Economist Hugo Perea estimated.

"Peru will register growth rates standing at 4.5% in the upcoming years; an important rate given current circumstances emerging from the international environment. This is a good pace and it will be among the region's most dynamic economies," he told Andina news agency.

Perea expressed these strengths were recognized at International Monetary Fund (IMF) and World Bank Group (WBG) Board of Governors held in Lima on October 5-11.

In this sense, he stressed awareness has been raised on the need to relaunch growth through the implementation of measures aimed at strengthening productivity and competitiveness.

Government

The next administration must resume initiatives boosted by the current government and relaunch structural reforms to enable the country to accelerate growth in the medium term.

"President Ollanta Humala's Government has achieved very interesting things, such as deepening education reform, which results will become evident in the years to come; public administration reform and infrastructure concessions, among others [...]," Perea affirmed.

He added the raw materials price boom enabled Peru to get fiscal reserves. 

"Nonetheless, in order to continue growing at a fast rate over the upcoming years, we need additional measures, so the economy will work more efficiently," he suggested.

The economist described the organization of IMF/WBG Board of governors as "impeccable."

"Organizing an event of this magnitude is very difficult and we planned it very well. It is a sign of what the future Peru looks like [...]," he expressed.

(END) AVV/MVB


Published: 10/12/2015