Peru’s competitiveness, State modernization to boost potential GDP

Peru’s greater competitiveness development and State modernization will boost potential GDP growth, Deputy Economy Minister Hugo Perea affirmed.

“Towards the medium-term, we intend to boost competitiveness and productivity, which will result in sustained growth in the long-term and income rise for the population,” the official affirmed.

“The other aspect is related to public sector modernization in order to enhance the production of public goods and services aimed at citizens,” he added.

According to Perea, these measures will also improve the population’s quality of life in the coming years, as seen in other places around the world.

“Currently, potential GDP growth has declined. It stands between 3.5% and 4%,” he indicated.

“We’re considering taking measures to regain physical capital contribution and accumulation, as well as to improve labor conditions in order to create more jobs,” the Deputy Minister added.

The official indicated a discussion paper about the main axes —to boost competitiveness and productivity in Peru— has been published, with the purpose of receiving feedback and developing the Inca country’s Competition Policy.

“Within this framework, we have proposed eight thematic axes to develop competitiveness, which can be grouped into three big components: Infrastructure, Human Capital Development, and Productivity,” he indicated.

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