:quality(85)//cloudfront-us-east-1.images.arcpublishing.com/infobae/NKVPZXBUWZCAZLETWZSWA7TIJA.png "The MEF estimates that Peru’s GDP will exceed 3.1% in 2023")
He Minister of Economy and Finance, Alex Contreras Miranda, believes that the growth of Gross Domestic Product (GDP) in 2023, it would be higher than 3.1%, due to the internal budgetary impulse and better conditions in the international economy.
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“The global economy is starting to show signs of recovery. Although the conditions are not as expansive as in previous years, but we are going to have a Mondial economy not so recessive Also, inflation it is also moderating,” explained the government official.
Additionally, the owner of the Ministry of Economy and Finance (MEF) He noted that a moderation in the cycle of rising interest rates in the Federal Reserve (Fed) of the United States and the revival of the Chinese economy, so some external drivers will revive the economy.
Private investment in Peru fell by 0.3% at the end of 2022, according to INEI
The Peruvian Institute of Economy (IPE) estimates that this year private investment could continue to decline and register a contraction of 2.8%, with a downside risk due to political uncertainty and social conflicts.
“We won’t stop until rate of growth is above the potential that has been overlooked in recent years. We are aiming for the full arsenal to achieve this growth,” noted the Minister.
As it concerns private investment, Contreras said that a growth of 3% is expected for this year. “There the slowdown begins to moderatethere are already indicators that show that a recovery phase has entered again,” he added.
The Minister of Economy estimates that private investment could grow by 3% this year
With legislative powers granted by Congress, Alex Contreras affirmed that they will improve the regime of public-private associations and promote a new land and interference law. Also, they will go abroad to summon investors.
Likewise, the head of the MEF said that it was essential that the agricultural sector continue to grow this year, since it contributes with 4 points of the PBIand directly and indirectly employs 4 million Peruvians.
“We are also working on shipbuilding industry and for the lithium industry. The element that we lack today is to recover the investor confidence which was badly damaged, but with these measures, like ‘With Punche Agro’,we want business people to think back to Peru,” Contreras said.
In reference to inflationthe Minister explained that it is starting to moderate in all parts of the world and that in Peru it is observed, which helps because it makes the Monetary Policyseverely contractile, begins to moderate or at least begins to reduce rate of adjustment, a situation that is observed.
Alex Contreras also maintained that part of the measures approved under the plans with punch aims to recover the trust and predicted that in the short term these indicators would begin to recover.
When launching the plan ‘With Punche Peru Agro’the minister affirmed that the executive branch is working to promote the private investmentthere public investment and energize the productive sectors in order to recover the trust.
“We hope that expectations will start to rise. Part of the measures approved aim to restore confidence there credibility in government; This is the only way to reverse expectations,” he stressed.
Contreras said that the businessmen expected that a change of direction would involve a series of improvements, since they would avoid the institutional deterioration that the previous management was generating in certain departments and the possibility of promoting a new program of growth was opening up. However, he indicated that some of these expectations were affected by the troubles recorded in December and January.
The impact of social conflict It was strong and limited in regional and sectoral terms, and the economy grew at two speeds. “He who has recovered and grown rapidly, understanding the primary sectorsand the non-primary sectors affected by the social upheavals which will have a significant impact in January.
“So in January we expect moderation Already Starting from February what the indicators show is that the economy is already entering the recovery phase,” the minister said.
In this sense, exports are picking up, investment indicators are also showing this, and in the case of the national government, the main tools are the public consumption and the public investmentmoving at a good pace,” Contreras said.