Peru's Economy

By Ana Wilmer



Peru has a rapidly growing economy. On the external front, Peru has declined their export costs in demand annually. However domestically, public investment projects have been lower than originally planned.The government has created the National Plan of Infrastructure for Competitiveness in order to shrink the growing infrastructure gaps. Investment is heavily needed for their economy to thrive especially in the businesses of transportation, sanitation, health, telecommunications, and water. For the past twenty years, Peru has seen an increase in agricultural exports, due to their highly valued fruits and vegetables, mainly consisting of grapes, avocados, blueberries, and asparagus. Because of this, rural poverty has declined from 80 to 36 percent in the past sixteen years. By bettering social protection, there is potential of a mass reduction in poverty and support inclusive growth. By reforming the pension system, giving more equitable natural resource revenues across their nation, and focusing on economic development, Peru has the ability to have a power economy of the world.


Sources Referenced

https://www.imf.org/en/News/Articles/2020/01/14/NA011420-Six-Things-to-Know-About-Peru-Economy-in-2020


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