Economy

Peru Economy

The Peruvian economy is at an interesting crossroads. Over the last two decades it has been one of the fastest-growing economies in the region, enjoying macroeconomic stability, a strong mining sector, an open economy, and growing agro-industry and services sectors. Positive GDP growth has continued despite the end of the commodities boom. According to World Bank statistics, Peru had a nominal GDP of $189.1bn in 2015, making it the sixth largest among Latin American nations. The country has an open economy, with trade representing 45% of GDP. Yet the growth rate has slowed and the initial impetus of a first wave of structural reforms has faded. The question now is whether the new government that took office in July 2016 can address problem areas, implement further reforms and re-accelerate the economy.

This chapter contains interviews with Alfredo Thorne, Minister of Economy and Finance; Peter Shaw, Head of Latin America, Fitch Ratings; and Álvaro Quijandría, Executive Director, ProInversión.