President Pedro Castillo found on the closing day of the meeting of the CADE Executives 2021 a new opportunity to endorse its commitments of full respect for business activity and legal security in the private sector.
At this meeting, the Head of State stated that national and foreign businessmen have all the guarantees to invest in Peru, since “there is and will continue to exist” legal security and clear rules on the board.
“I ratify again, businessmen have all the guarantees to invest in Peru. That is why I call on good businessmen, who I am sure are the majority, to continue betting on the country, invest without fear and create jobs with rights. And to the bad businessmen, who are also there, not to take advantage of the crisis and anguish of Peruvians, to respect the rights of their workers, to be responsible with the environment and to comply with their tax obligations ”, he remarked.
Along these lines, President Castillo announced that Peru’s growth forecasts for this year will exceed all the projections previously issued by national and international organizations, and will stand at 13% thanks to the gradual reactivation of the economy and vaccination.
“Beyond our own estimates and from other national and foreign institutions, which was just over 10%, by the end of the year our economy will have grown around 13%, exceeding the most optimistic forecasts, “he said.
The president added that this rapid recovery, together with a favorable international environment, has also allowed the fiscal deficit to achieve a reduction to October greater than 4%. “With this, this year Peru will be one of the economies with the highest growth in the region and with the lowest fiscal deficit,” he said.
These figures reinforce what was announced earlier by the head of the Ministry of Economy and Finance (MEF), Pedro Francke, who provided details of this estimate, higher than his last forecast of 12.15%. “We calculate the projected economic growth for this year at 13%. The data shows that the economy is in blue, 3% above before the pandemic, and we have been growing in an interesting way ”.
In this way, the Government’s projection is aligned with that of the Central Reserve Bank of Peru (BCRP) at 13.2%.
Social welfare
The President Castillo He also made it clear that this growth will not be a joy to citizens if the distribution of wealth and investment projects are not decentralized to the regions that need it most.
“GDP growth is not enough if it is not accompanied by social welfare for all. If development forgets the poor, it is not development. It is said that the pandemic demonstrated the precariousness of the state. In reality, what he has done is to finish revealing what was wrong for a long time, “said the head of state.
Promote free competition
President Pedro Castillo emphasized the need to promote free competition and “root out certain practices.”
“The social market economy does not allow monopolies, oligopolies or price agreements. A true social market economy is one that promotes and protects the interests of the majority, encourages free competition and does not tolerate taking advantage of the law for personal gain. Macroeconomic growth will have been of little use to us if bad practices and vices continue to be entrenched ”, he pointed out.
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