On what is the 6% growth estimate for 2015 based?
It is undeniable that decentralisation is crucial for the country to achieve long-term sustainable economic growth. Peru’s Regional Competitiveness Index 2014 (Índice de Competitividad Regional 2014, ICRP) shows that the process has been slow and uneven since the country’s division into 26 regions in 2002. Unequal distribution of resources, increasing bureaucracy and a...
In the first half of 2014, the government approved a range of measures designed to support economic activity. These fell broadly into two categories: short-term measures, intended to have a counter-cyclical effect to address the slowdown in 2014, and medium-term measures, expected to improve competitiveness and productivity, and thus raise the potential for growth....
Following the end of the commodities supercycle that sustained Peru’s economic growth at an average rate of 6.4% per annum since the mid-2000s, the country saw growth fall sharply over the course of 2014. However, this slowdown is widely seen as a temporary lull, attributable in part to delays in some major mining developments, and the government has sought to counteract the current situation...
Latin America as a whole has seen average insurance premium growth in the double-digits since 2012, well above the rate recorded in most other regions and outpacing regional economic growth. Even against this backdrop, Peru’s performance stands out, with net insurance premium growth of 15% in 2013, compared to 8% and 11% in Colombia and Mexico, respectively. Gross...
Microinsurance remains a very small part of the insurance industry in Peru, accounting for PEN3.5m-4m ($1.25m-1.43m) in premiums per year, depending on differing definitions of what constitutes microinsurance. The Inter-American Development Bank (IDB) has described Peru’s microinsurance market as “still minute, despite an array of product offerings”, all the more...
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