Economy Minister highlights economic recovery figures as on April 2024 | news

Jose Arista, head of the Ministry of Economy and Finance (MEF), highlighted this Tuesday that the Peruvian economy has begun to show important signs of economic recovery and upward projections for April this year.

Through your account on X (previously Twitter), Arista showed recovery figures in the fishing and tourism sectors in the fourth quarter of 2024 with an increase in tax revenue.

“The economy is recovering on the back of better prices for export commodities. Copper prices grew 20% year-on-year in April and hit their highest level in two years. Favorable prices are seen for agricultural exports such as cocoa and coffee“, he pointed out.

Cocoa prices rose 175% year-on-year to $8,797 per metric ton (MT) in April, and reached an all-time high of nearly $10,000 per MT in March, the economy minister recounted. Similarly, coffee prices increased by 22% year-on-year in April.

“After the El Niño event, with ideal conditions, the anchovy fishing season started in mid-April and is forecast to be very favorable. As of April 25, 530,000 metric tons of anchovies have already been seized It is only 6,000 metric tonnes, rather than the whole of April 2023,” he opined.

In the case TourismThis directly benefits the local economy of various parts of the country, the Chairman of MEF said, In the first quarter of 2024, 768,000 foreign tourists arrivedThis represents a growth of 62.4%.

“April tax collections will grow by around 4%, indicating an encouraging trend. We need to create a shock of confidence and encourage and support private investment from the MEF, and create better conditions to boost growth,” Arista noted. .

See also  Peruvian economy shrinks for fourth straight month

The Economy Minister promised that his department would seek to regain the confidence of investors and that this would require achieving consensus and joint work. This is part of the government's mission to “promote public policies to encourage investment, create quality employment and promote the well-being of citizens”.

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Published: 4/30/2024

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