Latest from the Blog
The Coronavirus pandemic left 30% of the Peruvian population in poverty, according to data from the National Institute of Statistics and Informatics (INEI). This percentage is equivalent to 9.82 million people and represents a regression to the poverty levels of 2010. The paralysis of most activities, due to the strict quarantine applied in 2020, was the main cause behind the increase in poverty in the country.
Moody’s changed the outlook on Peru’s long-term foreign and local currency A3 issuer ratings to negative from stable. This change reflects Moody’s view that an increasingly polarised and fractured political environment has been undermining the effectiveness of the country’s policymaking, leading to a progressive deterioration in Peru’s institutional strength. If sustained, this erosion will undermine economic resilience and continue to weigh on business sentiment and negatively affect investment.
Peru’s Gross Domestic Product (GDP) grew 3.8% in the first quarter of the current year if compared with the similar period of 2020, following the contraction registered in the four previous quarters, the National Institute of Statistics and Informatics (INEI) reported. GDP growth was influenced by the increase in domestic demand (6.5%), while net exports decreased due to the drop in exports (-5.5%) and the increase in imports (5%).
Get new content delivered directly to your inbox.