The BCRP president argued that GDP growth is crucial to reducing poverty. He insists that the Executive undertake reforms to recover potential.
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During the last day of CADE 2023, the president of the Central Reserve Bank of Peru (BCRP), Julio Velarde, pointed out that GDP growth is important to reduce poverty; which in a year where the economy is expected to close close to 0% or even below would keep more than a third of the population in poverty.
Along these lines, he recalled that there is a group of Peruvians who are on the limit of monetary poverty, but who “for S/11 or less per month” cannot abandon it.
“Urban poverty grew a lot, but according to the National Household Survey (ENAHO), 3% of the population (sic) That is to say, 11% of the poor at this moment lack 11 soles or less per month to leave poverty: be it selling one more emollient or half a kilo of more potatoes. They are almost on the edge“said Velarde.
The banker emphasized that the deterioration in the quality of life is due, in part, to the fact that informal businesses “ate up their working capital”; while the formal ones were able to recover thanks to programs such as Reactiva Perú.
Likewise, Velarde maintained that the Government must commit to reforms in the labor market, the capital market and improve its governance, so that there are officials “with the capacity for rapid response” and “know how to interact with private companies.”
Graduated from the Jaime Bausate y Meza University. In constant learning. Previously in Mundo, but now I write about economics in the newspaper La República.
Source: Larepublica
Alia is a professional author and journalist, working at 247 news agency. She writes on various topics from economy news to general interest pieces, providing readers with relevant and informative content. With years of experience, she brings a unique perspective and in-depth analysis to her work.
