Peru s economy shrank by 17.37 year on year in the first half of the year, what to do in the second

This year, affected by the new crown, various countries have been traumatized to varying degrees economically. Peru's economy shrank year-on-year in the first half of the year, marking the fourth consecutive month of contraction. And how to recover the economy as soon as possible has become a difficult problem in front of Peru.

In fact, Peru's economic resilience is still very strong, and Peru was on the verge of collapse in the 80s of the 20th century due to incompetence and guerrilla rage. But indomitable civil society groups, together with sound economists and strongmen, have turned the tide and transformed their homeland into one of the best growing economies in Latin America.

Social stability is the cornerstone of all development. Ensuring the employment rate and controlling the domestic epidemic will be more important for Peru. Peru's import and export business has been hit hard by the pandemic, and the Exporters' Association said that if the monthly decline exceeds 26%, the cumulative figure will continue to deteriorate, and that exports must be vigorously promoted for the rest of 2020 and in 2021.

However, Daniel, chief economist of a well-known Peruvian credit consulting company, said that the project portfolio, demographic dividend and financial penetration potential are the advantages of Peru's economic recovery.

Peru is quite rich in natural resources. Centuries ago, Peruvian was popular in Europe for guano and Peruvians made £100 million selling it. If the natural resources are well utilized, it will be a relatively large wealth for Peru.

"In the medium and long term, we are optimistic about the Peruvian economy, because Peru has advantages that many other countries do not have," Daniel said. He noted that there are a lot of investment plans in mining, infrastructure, energy and other sectors.

Daniel also highlighted that Peru is one of the youngest countries in Latin America with the youngest average age of the population. The average age of the Peruvian population is two to three years lower than the average age in Latin America, which means that Peru still has a demographic dividend. In addition, he stated:

In addition to its low debt ratio, Peru's financial penetration rate remains low compared to other countries in the region. "It doesn't have too much financial burden, and it also helps Peru to move forward easily.

It is necessary to ensure the employment rate and control the epidemic in China. Because of the epidemic, Peru's import and export business has been hit harder, and the exporters' association said that if the monthly decline exceeds 26%, the cumulative figure will continue to deteriorate, and it must vigorously promote export development in the rest of 2020 and in 2021, however, Daniel, chief economist of a well-known Peruvian credit consulting company, said that the project portfolio, demographic dividend and financial penetration potential are the advantages of Peru's economic recovery.

Peru's economy shrank year-on-year in the first half of the year, and in the second half of the year, it should stabilize the society, ensure the employment rate, control the domestic epidemic, and vigorously promote the development of exports.

Peru's economy shrank year-on-year in the first half of the year, and in the second half of the year, it is time to take advantage of the natural environment and develop the tourism industry, and the people should work hard.