November 19, 2021. Lima, Peru.- This year, the Peruvian Gross Domestic Product (GDP) would register an expansion of 13%, which raises the previous projection of 10.5%, said the head of the Ministry of Economy and Finance (MEF), Pedro Francke.
"The latest data shows that the growth of the economy is already in blue, 3% above what we had before the pandemic and we have an interesting advance," he added.
The minister acknowledged that the Covid-19 pandemic left some lags, such as, for example, in the generation of jobs, but that the Government grants reactivation measures to reverse that situation.
"The health crisis left us hit, we have a deficit not only in health services, but also in employment, which we are determined to recover with reactivation measures," he said.
He indicated that during the coming days they will continue working with the Congress of the Republic for the approval of the Public Budget for fiscal year 2022, as well as the request for legislative powers in tax matters.
"We promote the request for powers to make a tax reform that will be very important to consolidate investment, as well as an important and sustainable growth path for the coming years," he added.
In this regard, the vice president of the Moody's Investors Service group, Jaime Reusche, described as viable the new projections of the MEF, which foresees an increase in economic activity of 13%.
"We have a projection, but we are considering revising it upwards [it is now at 12%]," he said.
Although he did not specify the exact data, he was confident that it will be above the 13% projected by the MEF.
He said that the growth of Peruvian productive activity is progressing as expected. "This is based on the inherent strength of the economy that is helping this rebound. We have seen how formal employment has returned to the pre-pandemic level."
He said that the rebound in formal employment by the end of the year was a pleasant surprise for economic agents, although it has not been enough to absorb the entire new mass of workers entering the labor market.
However, he said this breakthrough will give us a significant boost for next year. By 2022, they consider that the Peruvian economy will have a relatively moderate growth of 3%.
Reusche commented that part of this better performance is based on certain political measures that were given to deal with the pandemic last year.
Source: Press Release - El Peruano