Luis Miguel Castilla: Peru will resume leadership of growth in Latin America By La Recontra Oferta Newspaper LRON at San Jose, CA U.S. 15:45PM 08.15.2014 Peru Capital Markets Day. Economy Minister inaugurated the event investment with a promise: to regain the pace of economic growth in Peru. While acknowledging that there was a little late reaction, insisted they are making the necessary corrections. This leads to jolt us appreciate what we already do what is necessary to recover, said Minister Luis Miguel Castilla in his opening speech of Peru Capital Markets Day, the events most important market capital of Peru. His message was clear: after a disappointing first quarter, the second half recovery will be Let reengancharnos, on the basis of the reforms that have been made and are being implemented, he said. If last year gave an ad to promote the development of local stock-the reduction in commissions BVL-, this time focused on reassuring investors gathered at the Westin Lima Hotel and invite them to continue trusting in Peru. Our view is that in the second half will grow more than 5%, and if we remove cyclical effects, it will be 7% to a seasonally adjusted, said Castilla, in line with the outlook of the BCR and the Ministry of Economy and Finance. A delayed reaction? The minister insisted that, regardless of the international context, Peru will continue its policy of trade liberalization, which is what sustains economic growth in the long term. The Supply shocks that Peru has one of the lowest growth since the 2008 crisis, but are factors that would disperse in the remainder of the year. We are a inserted into the international economy country and what happens in the world affects us, but we have a great capacity for recovery, he said. A falling terms of trade, the reduction of metal prices, the outflow of capital, agricultural drought, pest of coffee and flick El Niño, the reduction of investment totaled private . Hence the discourse of Luis Miguel Castilla has a fixed tone encouraging investment: Our long-term stakes are not simplistic. Keep quiet for a semester does not remove the growth achieved in recent years and the growth forward. If these data were expected, was there a delayed reaction ?, he asked. Yes, suddenly we have a little delayed, but the 2014 budget was expansionary fiscal policy now. With the anticipated dynamism for the United States, the terms of more stable exchange, the entry into operation Toromocho and stabilization of Antamina, and the decisions of monetary and fiscal policy, we will resume leadership in economic growth in Latin America with the lower rate of inflation. Fiscal measures taken recently injected S / 6 billion to -precisó- economy and complement the governments tendency to develop tax works and public-private partnerships, reducing red tape and improving human capital . The bet is Castilla insisted the long term, the aim is that in 2020, Peru is part of the OECD, and for this we must start from a premise: Macroeconomic stability should not be taken by dada
Posted on: Fri, 15 Aug 2014 22:47:10 +0000
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