He International Monetary Fund (IMF) highlighted the economic qualities of Peru that place it as one of the most solid markets in the region, they recalled from the Ministry of Economy and Finance (MEF).
Through the Article IV Consultation, the IMF details that the main characteristics of the Peruvian economy are its low public debt, high international reserves, financial sector resilience, and access to international capital markets, which mitigate risks and support the country’s ability to face any attack.
Alex Contrerashead of the MEF, assured that the IMF highlights the “enormous capacity for recovery” of the Peruvian economy despite the differentiated projections on GDP for this year: 3.1% for the Government and 2.4% for the international organization .
In this line, the IMF forecasts that, from 2024 to 2028, the Peruvian GDP will register a growth of 3.0%, after a “weak” outlook persists in the short term for the local economy this year. It is worth noting that the MEF expects an average of 3.5% of the annual economic variation by 2026. The current management of Contreras has not yet updated this information.
“The negative outlook is due to tighter global financial conditions, sluggish external demand, increased political uncertainty, and roadblocks,” they added.
Finally, the IMF pointed out that it is likely that the shortage of fertilizers could negatively affect the production of the agricultural sector; while the operations of the new Quellaveco copper mine will boost the economy with a small fiscal boost and along with higher copper prices.
Source: Larepublica
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