After a 2023 characterized as one of the worst years for the economy of the country, Peru’s Minister of Economy and Finance, Alex Contreras, has stated that the conditions are in place for 2024 to be the year of recovery.
The government’s forecast is to achieve a Gross Domestic Product (GDP) growth of at least 3%. “Setting aside the atypical year 2023, the Peruvian economy has great growth potential. In general, what we foresee is a recovery, without the temporary factors that have recently played against us,” Contreras told media outlets.
Climate phenomena, especially ‘El Niño’, could have a negative impact on Peru’s economic performance, but the minister has expressed confidence in stability and in investment projects that he expects to materialize in the coming months.
Despite the political crisis currently experienced by Peru and against all odds, the economy of this country boasts of being one of the most stable in the Latin American region. While other currencies have experienced fluctuations, the Peruvian sol has strengthened.
The resilience of the Peruvian sol against other adversities that have managed to hit other currencies has made it a “safe-haven currency,” especially in countries where dollars have become scarce, such as Bolivia.
