According to the annual report by the World Bank Group Peru is among the best and most solid Latin American economies in 2018
The name of the report is “Doing business 2018: Reforming to Create Jobs”, and it highlights how easy it is doing business in Peru.
The World Bank Group’s objective measures focus on business regulations. Peru ranks 58 on a global scale, positioned below Mexico (49) and Chile (55), making Peru number 3 in Latin America.
The report stated that it is worth noting Peru is the only economy in the region to have improved its position this year despite the severe blow of Coastal phenomenon called El Niño in the first quarter of 2017. Colombia, for example, fell a position.
The report also highlighted the words of President PPK who reiterated that the growth strategy looks to promote the formalization of businesses through a reduction of costs and barriers. These reductions mean lowering taxes, cutting financing costs and increasing the offer of loanable funds for small enterprises, etc., (interest rates of mortgages will also be lowered, you can read more about it in this article)
It is worth mentioning that the World Bank Group stated that depending on how these measures were taken, the economy could grow even more than expected during 2018.
Are you planning to invest in Peru next year?
(Cover Photo Flickr)