After a 2023 considered one of the worst years for the economy, Peru’s Minister of Economy and Finance, Alex Contreras, has asserted that conditions are ripe for 2024 to be a year of recovery.

The government’s calculation aims for a Gross Domestic Product (GDP) growth of at least 3%. “Setting aside the atypical year of 2023, the local economy has significant growth potential.

Overall, what we foresee is a recovery, without the temporary factors that have recently played against us,” Contreras expressed to the press. Climatic phenomena, especially ‘El Niño’, could have an unfavorable impact on the country’s economic performance, but the minister has shown confidence in stability and in investment projects expected to consolidate throughout the year.