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Latin American Economy & Business - November 2014 (ISSN 1741-7430)

PERU: Stimulus package number four

At the beginning of November, Peru’s new economy minister, Alonso Segura, had both bad news and good news for congress. The bad news was that he was again trimming back expectations of growth for this year. After real annual GDP growth of 5.8% in 2013, the economy ministry was now expecting growth of “a little under 3%” in 2014 (a reduction on the previous official forecast of 3.0%-3.5% for the year). The good news was that the minister was announcing the fourth stimulus package of the year, designed to “reactivate the economy in the short term, but also, and fundamentally, to improve competitiveness and productivity in the medium term”.

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