Washington, London. Jan. 10 (ANDINA). Articles in The Washington Post and Financial Times highlight the impressive growth of Peru’s gross domestic product during President Ollanta Humala’s administration, which remains as the fastest-growing economy in Latin America, thus boosting the country's middle class.
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This extraordinary development of the country's economy is driven mainly by domestic consumption of goods and services and foreign investments.
The articles also highlight the commitment of President Humala to reduce poverty levels to 15 percent by 2015 through a series of social programs aimed at benefiting the neediest and an increase in minimum wages and pensions. The report said that this spectacular growth was due for the further expansion of the country’s middle class, which leads and boosts consumption and generates synergies in all the economy’s sectors.
This adds to the steady decline in poverty during the last ten years in addition of the increasing levels of "banking" of the economy and the rise in wages which have increased at an annual rate of 6 and 7 percent in the past decade.
Indeed, the macroeconomic figures are reflected in the construction of malls in Lima’s popular areas such as "Mega Plaza Express", where consumption increase at an accelerated rate.
The Andean country’s gross domestic product rose 6.7 percent year on year in October 2012, marking 38 consecutive months of growth.
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Cesar Moran - Moderator of this Blog
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The articles also highlight the commitment of President Humala to reduce poverty levels to 15 percent by 2015 through a series of social programs aimed at benefiting the neediest and an increase in minimum wages and pensions. The report said that this spectacular growth was due for the further expansion of the country’s middle class, which leads and boosts consumption and generates synergies in all the economy’s sectors.
This adds to the steady decline in poverty during the last ten years in addition of the increasing levels of "banking" of the economy and the rise in wages which have increased at an annual rate of 6 and 7 percent in the past decade.
Indeed, the macroeconomic figures are reflected in the construction of malls in Lima’s popular areas such as "Mega Plaza Express", where consumption increase at an accelerated rate.
The Andean country’s gross domestic product rose 6.7 percent year on year in October 2012, marking 38 consecutive months of growth.
PLEASE POST YOUR COMMENTS IN THE BOX BELOW
Saludos
Cesar Moran - Moderator of this Blog
SKYPE: CZRMORAN
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