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Peru Runoff, Part II: Whoever presides, economy matters the most

Keiko Fujimori and Pedro Pablo Kuczynski are now tightly vying against each other prior to the general election runoff on June 5 in Peru.
Whatever the outcome, economist and expert have started to eye the post-polling era, where economy and trade will matter the most for this fast growing country in Latin America.

(Soundbite) Carlos Aquino, Director of Institute of Economic Research of San Marcos University
“Peru has an economy depending heavily on foreign factors. We export 23 percent of what we produce to foreign markets. If the global economy has not fully recovered, Peru will not enjoy a quick recover. Of course, compared to other Latin American countries, Peru is going quite well.”

Peru’s economy grew by more than 3 percent in 2015, a blessing for the nation of 30 million people, especially in contrast with most regional countries that have been plagued by recession.

(Soundbite) Carlos Aquino, Director of Institute of Economic Research of San Marcos University
“This year, Latin America will not grow but decrease, while it is likely that Peru grows by 3.5 or even up to 4 percent. Now another great challenge for Peru is obviously to revive domestic demand.”

With an average annual growth rate of more than 6 percent between 2006 and 2013, and over 2 percent in 2014, Peru has been ranked as one of the strongest economies in this region.
Such an achievement is most attributed to its status among the world’s 5 biggest producers of gold, silver, copper, zinc, tin and lead.

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