The commitment of Peru to meeting its transport and logistics needs is apparent in the FY 2019 budget. The Ministry of...
Peru Transport
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.
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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.
The transport sector remains a vital aspect of Peru’s economic success, growing by 2.30% in 2016, and by an average of 2.26% in the first eight months of 2017, according to the National Institute of Statistics. This expansion was driven by a 3.05% increase in airport transit, a 4.26% growth in railway transport, as well as respective increases of 2.11% and 0.74% for passenger and freight...
With a new administration in place, local and international players in Peru have regained optimism. As one of South America’s top performers due to its reforms and fiscal discipline, the country is benefiting from rising commodity prices and an export-oriented mining sector. In addition, 2018 brought increased public expenditure, with notable rises in the budgets for education, health, infrastructure and reconstruction.
The transport sector will remain a vital aspect of Peru’s economic success, and reducing the current infrastructure deficit is key to sustaining recent positive growth trends. In light of the 2017 flooding crisis, the Ministry of Transport and Communications is now urgently prioritising investment in transport infrastructure so as to restore the minimum conditions for the private sector to...
Over the last two decades Peru has been one of the fastest-growing economies in the region. Remarkably resilient to global headwinds, positive GDP growth has continued despite the end of the commodities boom. Yet the growth rate has slowed and the initial impetus of a first wave of structural reforms has faded. The question now is whether the current administration can address problems, implement further reforms and re-accelerate the economy.
Chapter | Transport & Logistics from The Report: Peru 2016
Several years of rapid economic growth have laid bare persisting gaps, underscoring the need to reduce logistics costs and revamp the country’s infrastructure. Improving transportation networks has become one of Peru’s top priorities. Although the slowdown in China is sure to impact demand for the country’s mineral exports and affect state spending, investment in upgrading and expanding...