MEF will have 3 years to reduce informality in Peru if it wants to join the OECD

The minister Alex Contreras He placed special emphasis on reducing informality in Peru as a key strategy for the next 3 years, in compliance with the recommendations for Peru’s accession to the OECD.

In 2022, our country received in Paris the roadmap for joining the group that brings together the largest economies on the planet. The response with the self-evaluation of the Peruvian side gave rise to the first report, published in September 2023, which indicates that the South American nation will have to pass the filter of 24 review committees.

The report recognizes macroeconomic stability, where Peru has a higher score than OECD countries. However, it points out the low levels of collection associated with the high informality of the market.

In his presentation before the Special Commission for Monitoring the Incorporation of Peru into the Organization for Economic Cooperation and Development (CESIP – OECD) of Congress, the minister revealed that Peru collects half of a country in the group and less than the average of Latam The position of the Peruvian Government remains to join in 2026, “or leave everything ready for it.”

“Behind that is high informality. It is something we have to fight against, since it generates a series of deficiencies in infrastructure and quality of transportation, among others. The document is clear,” Contreras Miranda said.

In this sense, the head of the MEF highlighted that “Peru is one of the countries with one of the highest rates of entrepreneurship worldwide”, but that, unfortunately, The State has not been able to adapt to this and generate incentives for businesses to “flourish in the formal sector.”

“The report is very clear, we need to reduce informality. Peru has one of the highest rates of informality in the world, it is the only way to improve social protection and productivity,” he said.