Peru’s economy grows despite protests-Minister
2023.01.24 14:06
Peru’s economy grows despite protests-Minister
By Kristina Sobol
Budrigannews.com – Economy Minister Alex Contreras said on Tuesday that despite recent social unrest, Peru’s economy has remained strong, and the Andean nation is still on track to meet growth forecasts thanks to a $1.55 billion recovery plan.
Contreras stated that the economy could grow “close to” 4% this year while the Peruvian sol remains the region’s most stable currency, despite weeks of deadly protests following the ouster and detention of former President Pedro Castillo.
In keeping with his prediction from last month, Contreras stated that the economy is still anticipated to expand by 3% in the first quarter of this year.
At the end of December, Contreras made an announcement of a $1.55 billion plan to reactivate the economy. The plan would expand welfare programs like pensions, soup kitchens, and access to food in homes, as well as public works, investments in mining and agriculture, and welfare benefits like pensions.
He went on to say that Peru wanted to encourage lithium development and would set up a lithium working group, but that no formal announcement had been made yet.
Peru is the second largest producer in the world, but it has only produced a small amount of lithium so far.
According to Contreras, despite the unrest, mining companies have expressed an interest in expanding their operations in the nation.
