1945

The Peruvian economy's performance has been in keeping with the economic model being implemented since 1990, which has included major structural reforms anda stabilization policy that has remained in place since the model's inception. Over the past five years, the economy has grown at an average rate of 7.5% per annum, while inflation has exhibited a downward trend, coming in at single-digit figures. The economy has continued to suffer from weaknesses in the external sector and on the employment front, however. Against this backdrop, the Peruvian economy in 1997 exceeded initial expectations, posting growth of over 7%; this was an improvement upon the modest performance recorded the previous year, when the Government's adjustment policy had been a dominant factor. The trend in inflation was also very positive, with the annualized rate falling to 6.5% by December.

Related Subject(s): Economic and Social Development
Countries: Peru
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