Publication: Peru: Seizing Opportunities for Growth and Prosperity
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2025-03-11
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2025-03-11
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Peru achieved remarkable economic success between 2002 and 2013 through structural reforms and prudent macroeconomic policies, nearly doubling the regional average with an annual growth rate of 6.1 percent and significantly reducing poverty from about 60 percent to 24 percent. However, progress has stalled since 2014, revealing structural challenges such as low productivity, persistent regional disparities, and declining institutional capacity exacerbated by political instability. Despite these obstacles, Peru retains substantial growth potential by strategically leveraging its comparative advantages, particularly as the world's second-largest copper exporter, and through sectors like agriculture and tourism. By adopting bold reforms to boost productivity, innovation, and women's economic empowerment, addressing spatial inequalities, and fundamentally strengthening institutional capacity and public investment management, Peru can accelerate its development trajectory and achieve high-income status by the early 2040s—three times faster than current trends suggest.
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“World Bank. 2025. Peru: Seizing Opportunities for Growth and Prosperity. © World Bank. http://hdl.handle.net/10986/42905 License: CC BY-NC 3.0 IGO.”
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