Weekly Report - 22 October 2020 (WR-20-42)

PERU | Economic recovery continues. Peru’s GDP contracted by 9.82% in August 2020 year-on-year as a result of the coronavirus (Covid-19) pandemic, according to figures released by the national statistics institute (Inei) on 15 October. However, Economy Minister María Antonieta Alva responded to the figures positively, tweeting on 15 October that, “for the first time since the pandemic began, we registered a single-digit drop [in GDP growth]”. She pointed to the fact that the August figure compares with contractions of 15.7% in March, 39.9% in April, 32.7% in May, 18.1% in June, and 11.71% in July.