Economic Studies Central Manager at the Central Reserve Bank (BCR) Adrian Armas affirmed that overcoming the political noise in Peru will promote lower impact on the economy, which continues to show recovery signs.
"Unfortunately,
the political crisis is not new. Tensions have been on display for the last four years. The impact of this crisis —taking as reference similar situations in the past— has temporarily deteriorated the expectations. However, the impact will be lower if it (the crisis) is overcome as soon as possible," he commented.
Armas stated that —in these cases— it is important to overcome the temporary deterioration that these situations may generate in the economy.
Referring to what the Comptroller's Office said, that Peru lost S/23 billion (around US$6.49 billion) last year because of corruption and functional misconduct, which mainly consisted of the budget execution, the BCR manager noted that this is a burden the country has borne for many years.
"
Corruption is something the economy has carried for several years and, clearly, the reduction of these corruption levels will have a positive impact on the country," Armas said during the presentation of the September 2020 Monetary Program.
Regarding the economic activity, the BCR representative affirmed that it is recovering, although it shows levels below those seen last year.
"We are in a process of recovery, specially a
recovery of employment, which has seen a very sharp fall in April and May," he explained.
(END) VLA/JJN/RMB/MVB
Published: 9/12/2020