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Economic Minister confirms Peru’s recession, calls for stimulus to boost economy and overcome challenges.

Peru Acknowledges Recession and Seeks Fiscal Stimulus

Peru in Recession, Economy Minister Admits

Peru’s Economy Minister, Alex Contreras, has made a significant statement, acknowledging that the country is indeed in a recession. This marks a departure from his previous stance, where he downplayed months of economic contraction. Contreras, speaking before congress, emphasized the seriousness of the situation and stressed the need for a fiscal stimulus.

A Challenging Situation

The Economy Minister, Contreras, expressed his concern regarding the “difficult” situation Peru finds itself in. He affirmed that there is “no doubt” about the country’s negative growth, signifying a definitive recession. The admission comes after a period of economic contraction, which Contreras had previously tried to downplay.

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Seeking a Fiscal Stimulus

Contreras, in his address to congress, made a strong case for implementing a fiscal stimulus. With Peru officially in a recession, he emphasized the urgency of taking proactive measures to revive the economy. This fiscal stimulus aims to provide the necessary boost and aid in the recovery process.

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