From the U.K.’s Brexit vote to the U.S. presidential race, a handful of campaigns and elections around the world dominate news cycle after news cycle. One election that has gotten less attention than it deserves is the one in Peru, which recently picked a new president. He’s set to take office this week.
Presidential hopeful Keiko Fujimori conceded defeat to winner Pedro Kuczynski, but he faces the daunting task of reaching out to the opposition while fixing Peru’s economic problems. Fujimori has vowed to lead the opposition in Congress, but shares some of his views on market-oriented reforms. Peru is a commodity-driven economy that has suffered from lower commodity prices.
Keiko Fujimori, daughter of jailed ex-president Alberto Fujimori, may have won the first round of voting, but faces a June runoff, according to the Associated Press. Officials have counted over 20% of the vote, with businessman Pedro Kuczynski coming in second and Congresswoman Veronika Mendoza landing third place. The full results are expected to be announced on Monday.
Peruvian presidential candidate Keiko Fujimori, daughter of convicted ex-president Alberto Fujimori, leads her rivals with 39 percent of the vote in a recent poll, according to AFP. Alberto Fujimori, who ruled from 1990 to 2000, is serving a 25-year prison sentence for human rights violations and corruption, but he retains popularity among many Peruvians. Julio Guzman, Keiko’s closest rival, has 20 percent of the vote.
When you want to improve your credit rating, you make sure to pay your bills on time, check for incorrect information on your credit statement, and avoid making too many new credit inquiries. When you are a South American country, you join the Organization for Economic Cooperation and Development. At least, that is what Peru’s Finance Minister, Alonso Segura, said was Peru’s motivation for joining the OECD.
Peru’s economy expanded 2.68 percent in March, shattering previous predictions of 2.15 percent. GDP also grew 1.73 percent, which is beyond the government’s estimate of 1.5 percent growth, and the economy increased 0.7 percent on a seasonal level from February to March. Analysts expect Peru to grow around 4.0 percent in 2015.
Peru’s economy grew 0.94 percent in February, while shrinking 0.3 percent that same month. The economy retracted from a previous expansion of 1.68 percent in January. The figures fell short of analyst expectations of 1.35 percent growth for February.
By the end of 2014, Peru expects economic growth of around 3% according to the latest statistics. After the council of ministers authorized a stimulus package worth around $547 million in an attempt to boost the economy, the impact on GDP should be in the region of 0.25% according to the Ministry of Finance. The plan of stimulus consists of four primary themes, including:
*A set of laws to promote economic activity, cut red tape, and optimize administrative processes
*Short-term measures of fiscal stimulus
Peru, the world’s top fishmeal exporter, has cut its commercial fishing quota for anchovy by 68 percent this year, reported Reuters on Thursday, amid concerns that warmer water temperatures and controversial fishing practices were causing a dramatic reduction of the nation’s anchovy stock, which is about a-fifth of the world’s total.
Peru Economy – Peru is a lower middle-income economy comes under Latin America and Caribbean region as to the classification made by the World Bank on the basis of income and region for the year 2006.
The country has a total surface area of 1.3 million square kilometers as in the year 2004, with a total forest area of 692.1 thousand square kilometers in 2000.
Peru Economy – Social Indicators
