The Peruvian economy will grow between 3.5% and 4% in 2022, the government estimates

This content was published on Jan 24, 2022 – 20:59

Lima, Jan. 24 (EFE). – The Peruvian economy will grow between 3.5% and 4% this year, after closing 2021 with a progress of nearly 13%, while a recovery is expected for the 2022-2026 period with an annual average of 3.4% as projected on Monday by the Minister of Economy and Finance Pedro Franck.

The head of the economy highlighted at a press conference that Peru managed in 2021 to exceed expectations that predicted a growth of 10.5% of GDP, after ending the year with a rise of 13%, “a record number in Latin America” boosted by records recorded in non-traditional exports, As well as in public and private investment.

Frank explained that last year private investment saw “extraordinary” growth of 34.5%, up 12% from 2019, so it wasn’t just a “rebound” from poor 2020 results.

Public investments, for their part, amounted to 39 thousand million souls (about 10 thousand million dollars), while the state achieved a “strong decrease in the fiscal deficit”, which amounted to about 2.6 percent of the gross domestic product.

“We reduced the deficit by about 6 points,” Frank said, after noting that the region’s average is more than double the Peru average and almost three times the emerging economies average.

The minister emphasized that the executive authority expects the growth recorded in 2021 to continue at a “good level” this year, so the country will close 2022 with a progress between 3.5% and 4% of GDP, and will maintain an annual average of 3.4% until 2026.

Those forecasts are lower than the rate estimated by the government last August because growth in 2021 “substantially, by about two points”, exceeded the level that had been programmed.

Despite this, the minister emphasized that if these estimates were met, Peru would once again record “one of the largest or most significant growth in the region”. EFE

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