PERU`S COLD CHRISTMAS, STILL

feb04_nacimiento

The past week three main elements dominated the economic context in Peru. First, the demand, even in Christmas retail campaign, did not respond by far to the expectations. Second, the commercial credit for small and medium entrepreneurs showed a decline of 3.5% vs. previous year. Third, the dollar price had some troubles, and motivated a major buy from the BCR in the Lima money market.

 

It means the Fiesta ended? Not at all, have we thought. Export prices and foreign investment can conduct the expansion for the next year.  But the response to the context of the major economic actors really worried us a lot. 

 

The Government tries to start its spending plans as soon as possible. But bureaucracy and over-ruled sectors block the rush. The Peruvian privates conducted as ever: they urge for major capital access, after confessing they had to lay-off 60,000 workers in 2008. And Unions claim for a real wage increase, lower interest rates, and tax exonerations, all at the same time.  

 

We need a national project.  We need to set the major lines of our own development as a nation. Total cooperation is needed.  Zero lobbying, national interest above all.

  

 

 

 

 

 

 

 

 

 

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