This year Peru’s economy will grow more than estimated by the IMF – LaRepública.pe

  Agencies.

 

 Minister of Economy and Finance, Alonso Segura, said the Peruvian economy, like last year, will be the one that grows among the six largest countries in the region and between the four countries of the Pacific Alliance.

 

 In this regard, he stressed that the Peruvian economy will grow a little more than projected by the International Monetary Fund (IMF) this year and in 2017.

 

 The IMF revised up the prospect of growth of the Peruvian economy 3.3% (October 2015 and January 2016) to 3.7% in April this year.

 

 According to the economic outlook, given to prior to its spring meetings in Washington (15 to 17 April) know, the world economy will grow 3.2% this year (revised downwards its estimate from 3.4% which provided in January), below the historical average of the last 15 years (3.8%).

 

 “We believe that in 2016 and 2017 we will grow a little more than the IMF said, but the fact is that this body stands to Peru in a better position than other countries in the region, a result of economic measures have been taken during the government of President Ollanta Humala, “Segura said.

 

 He said that the growth of the Peruvian economy is the result of a series of economic policy measures that were taking quite some time such as the boost to public spending that has been most expansive in recent years, however it has to be temporary.

 

 He also agreed with the recommendations made by the IMF regarding that you can not think only short-term measures but measures that generate growth and productivity gains in the medium and long term, because that will better employment conditions for people and greater growth capacity of the economy.

 

 He added that these measures, which should become state policies and is implementing the government and boost human capital, boost infrastructure in line with fiscal space, diversification, competitiveness, responsible social policies and boost institutional ( OECD).

 

 World Bank raises Peru projection of 3.3% to 3.4% this year

 The World Bank (WB) raised the projected growth of Gross Domestic Product (GDP) for this year Peru from 3.3% to 3.4% and reaffirmed that Latin America and the Caribbean remain in recession in 2016 with a contraction of 0.9%.

 

 In its report last January, the World Bank cut its growth estimate Peruvian GDP of 3.62% to 3.3% for 2016, now has risen slightly.

 

 “The IMF forecasts (3.7%) and World Bank economists tend to converge around 3.5% and maybe more. An interesting question is if this forecast has risks up or down,” he said .

 

 The World Bank expects Latin America and the Caribbean 0.9% in 2016 to contract by strong recessions in Brazil and Venezuela.

 

 Keys

 Minister of Economy and Finance, Alonso Segura, estimated the growth of the Peruvian economy in February this year would have placed above 5%, in line with the acceleration experienced by the productive activity since last year.