Peru Announces $8 Billion Stimulus to Spur Economic Recovery
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Peru announced a $8 billion package of measures to boost investments and aid economic recovery. The measures target mining, infrastructure, and other key sectors.
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Peru slid into recession this year due to El Nino, lower investment, and lingering effects of past conflicts. The government aims to spur a recovery in Q4 2022.
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Inflation is forecast to fall to around 3.8-3.9% in November. The fiscal deficit is still projected at 2.4% of GDP this year despite the stimulus.
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The economy minister said the plan aims to boost confidence and prevent pessimism. He expects it to spur a surge in public and private investment.
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Peru is the world's second largest copper producer. The plan includes measures to attract mining investment and boost production.