Political uncertainty and weakening commodities, together with El Niño, have deteriorated GDP expectations.
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The Peruvian economy is headed for its weakest variation in just over 20 years — not counting the pandemic — since the World Bank also expects GDP to close at 0.8%.
So far, the global front has been reducing its expectations, which, by voice of William Maloneychief economist for Latin America and the Caribbean at the World Bank, due to political problems and the weakening of commodity prices.
“There is the political uncertainty that characterized the country last year and of course there is also El Niño that causes problems and with the narrow fiscal policies, growth has been reduced to a certain extent”commented to the press when presenting the report Connected: Digital technologies for inclusion and growth.
In addition, he pointed out that Peru must resolve its political problems to restore its development path, in a context where there is a poor performance of investment in capital and productivity.
Source: Larepublica
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