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Peru's economy grows 4% in April and May
Friday, June 14, 2024 - 13:43
Lima. Foto: Andina.

José Arista, the country's Minister of Economy and Finance, said that the measures implemented are contributing to reactivate the economy.

The Minister of Economy and Finance, José Arista, indicated today, Friday, that Peru's gross domestic product (GDP) would have grown around 4% in the months of April and May this year.

“To get out of the recession that was experienced in 2023, the Ministry of Economy and Finance (MEF) is implementing measures to reactivate the economy, through the promotion of public and private investment, simplifying procedures and unblocking bottlenecks, thus generating confidence in investors,” he said.

“As a result of these actions, a growth rate of 4% is expected for April, and we have preliminary estimates of a similar figure, that is, 4%, we are going to obtain for May,” he added.

Before the plenary session of the Congress of the Republic, where he attended to respond to a questionnaire, José Arista emphasized that the measures proposed by the MEF have the objective of reactivating the economy and generating conditions for sustained growth at higher rates.

“In the first quarter (January-February-March) of 2024 we have emerged from a recession that has cost us. We had growth rates greater than 1% in that period and in April we grew 4% and our projections indicate that in May we will also repeat with a figure close to 4%,” he indicated.

“These results consolidate the growth goal of 3.1% for 2024 and what we want is to enhance that, make our projections robust, so that we do not fall in the second semester. That is why we propose many measures that allow us to make this reactivation sustainable,” he added.

The minister explained that poverty decreases when the economy grows, which is written in all the research that has been done on this topic.

“However, the permanent reduction of poverty is a medium-term process and not a single year one. Between 2004 and 2019, during these 15 years, poverty was reduced in Peru from 59% to 20%, this was possible thanks to the fact that the Peruvian economy accumulated a growth of 112% in this period,” he explained.



Agencia Andina