Peru has seen relatively stable economic growth and significantly reduced the number of people living in poverty. Still, there have been multiple cases of corruption, but the government of President Martín Vizcarra Cornejo, who took office in 2018, has focused efforts on combatting this and stabilising the political climate. Nevertheless, challenges to ensuring sustainable development remain.
Despite a challenging external environment, Peru’s annual average GDP growth has exceeded 5% over the last decade. However, the economy suffered in 2017 as a result of further damage inflicted by El Niño, and inflation averages approximately 3.25% per year. Economic growth began to recover in 2018, with GDP expanding by 4.1%, though this is expected to moderate to 3.7% in 2019 and 2020. While Peru faces a range of challenges, the country possesses strong fundamentals, and numerous efforts are under way to address infrastructure gaps, limitations in human capital and inefficiencies among governmental institutions in order to promote more sustainable growth.
A new foundation: President Martín Vizcarra Cornejo, on using fiscal reform and labour policy to...
Wait and see: Julio Velarde Flores, President, Banco Central de Reserva del Perú, on prudent...
Fiscal incrementalism: Humberto Astete, Tax Partner, EY Perú, on expanding domestic fiscal reform...
Attractive framework: Ricardo Guevara Bringas, Corporate Lawyer and Partner, RGB Avocats, on...
Global cuisine: Gastón Acurio, Chef and Restaurateur, on promoting Peruvian gastronomy on the...
Flying ahead: Juan José Salmón Balestra, CEO, Lima Airport Partners, on the impact of the expansion...
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